#4 - Nvidia (NASDAQ:NVDA)
The global chip shortage is going to create a supply and demand problem for the foreseeable future. That’s one reason to invest in Nvidia (NASDAQ:NVDA). In fact, two analysts give NVDA stock an $800 price target which would be an increase of over 30% from its current level.
But it shouldn’t be your only reason. Fortunately, it’s not. At the company’s recent Investor Day, the company showcased new data center central processing unit (CPU). This should help the company build on the record $6.7 billion in data center revenue it earned in 2020.
NVDA stock is up 110% in the 12 months ending April 20. But the stock is up just 15% in 2021. That’s due to Nvidia being swept up in the broad tech sell-off in March.
Investor Day presentations are typically a strong precursor of a company’s earnings. In the case of Nvidia, that suggests the company will be delivering a strong report in May. It also gives investors reason to jump on the stock, as it’s likely to move higher.
About NVIDIA
NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.
Read More - Current Price
- $1,134.50
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 39 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $1,123.49 (1.0% Downside)
