#1 - NVIDIA (NASDAQ:NVDA)
NVIDIA (NASDAQ: NVDA) - No industry sums up the volatility of the tech sector more than the semiconductor industry. Nvidia’s stock saw a nearly three-year surge that saw it rise nearly 800% come crashing down at the end of 2018. However, the stock is bouncing back. Shares of NVDA are up nearly 22% for the year and just over 12% since March 8. Some of the reason for the stock’s slump was due to the cryptocurrency meltdown, but the extent of the stock’s crash showed a fundamental misunderstanding of the company’s product offerings. The graphic processors that the company designs, while essential for crypto-miners, are far more in demand for video games and datacenters – which include applications for artificial intelligence (AI). Currently, AI applications account for about 25% of Nvidia’s business. That’s where the news gets particularly enticing for investors. At the GTC 2019 conference on March 18, Nvidia CEO Jensen Huang announced the company’s partnership with Toyota Motors. In a nutshell, Nvidia through its DRIVE Constellation simulator is going to provide the technology that will allow Toyota to create virtual simulations which can lead to a rapid acceleration of the company’s testing capabilities while helping to cut costs, increase safety and improve efficiency.
About NVIDIANVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.
Read More Current Price: $548.19
Consensus Rating: Buy
Ratings Breakdown: 28 Buy Ratings, 3 Hold Ratings, 4 Sell Ratings.
Consensus Price Target: $548.42 (0.0% Upside)
