Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.
In today's video, I discuss recent updates affecting Advanced Micro Devices (NASDAQ: AMD). Check out the short video to learn more, consider subscribing, and click the special offer link below.
Teradata TDC recently launched Teradata AI Unlimited, a serverless artificial intelligence (AI)/machine learning (ML) engine with high-performance computing and ClearScape Analytics intended for data exploration, testing and exper
Amazon stock has gained more than 71% year-to-date, despite macro headwinds. And looking ahead, at least one Wall Street analyst expects AMZN to reach $230 per share in the next 12 months.
DoorDash DASH recently entered into a partnership with the Save Mart Companies to bring Save Mart, Lucky and FoodMaxx shops to its DoorDash Marketplace.The partnership will provide consumers in California and Nevada access to Save
American Software AMSWA reported second-quarter fiscal 2024 non-GAAP earnings of 8 cents per share, which was in line with the Zacks Consensus Estimate. The bottom line dropped 11.1% year over year.Revenues decreased 5.8% year ove
Kulicke and Soffa Industries KLIC reported fourth-quarter fiscal 2023 non-GAAP earnings of 51 cents per share, which beat the Zacks Consensus Estimate by 21.43%. The bottom line dropped 57.1% year over year.Revenues decreased 29.3
Nokia Corporation NOK recently announced that Swisscom has completed the deployment of its optical networking solution to upgrade and establish a resilient, high-capacity network infrastructure nationwide. Swisscom, the largest te
Qualcomm Incorporated QCOM has unveiled state-of-the-art Snapdragon 7 Gen 3 chipsets with advanced AI features for mid-range smartphones. Collaborating closely with leading manufacturers, the company has identified the most in-dem
Synopsys SNPS recently unveiled Synopsys.ai Copilot in collaboration with Microsoft Corporation MSFT. Synopsys.ai Copilot integrates MSFT’s Azure OpenAI Service with SNPS’ chip design tools and Intellectual Property (IP) Core, ena
U.S. stocks were set for a higher open on Friday as Treasury yields extended declines from the previous session after recent weak economic data supported bets of a dovish pivot by the Federal Reserve next year.
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In my opinion, one of the best stocks of the year has been Nvidia (NASDAQ: NVDA). The stock returned more than 230% this year, which is nothing short of incredible considering the size of Nvidia. Entering 2023, the market thought Nvidia was worth $364 billion. Now, it values the
U.S. stock index futures edged higher on Friday as Treasury yields extended declines from the previous session after recent weak economic data supported bets of a dovish pivot by the Federal Reserve next year.
Shares of the chip giant (
NASDAQ:NVDA
) are among the most-discussed stocks on the
social media platform Reddit. While this trending Reddit stock has witnessed a blistering rally so far this year, analysts’ average price target implies that the bull run in NVDA stock will be sustained.
With this backdrop, let’s understand what’s in store for NVDA shareholders in the future.
Is Nvidia Share a Good Buy?
Nvidia is the biggest beneficiary of the
AI (Artificial Intelligence) revolution. The company's HGX platform and cutting-edge technology are widely recognized as the powerhouse behind generative AI and large language models. This supports NVDA's dominance in the AI space, which makes it a solid long-term stock.
This is evident from analysts’ Strong Buy consensus ratings on the stock. 37 out of 38 analysts covering NVDA stock have rated it a Buy. In a report to investors dated November 16,
Susquehanna analyst Christopher Rolland reiterated the Buy recommendation on Nvidia stock. Further, the analyst increased the price target on NVDA to $625 from $600 ahead of the Q3 earnings announcement. Meanwhile, Rolland expects the company to deliver solid results and guidance due to an improving supply chain, “long and deep backlog,” and “strong mix shift from A100 to H100.”
It’s worth mentioning that Nvidia will release its
Q3 Fiscal 2024 financial results on November 21.
While analysts are bullish about NVDA’s prospects,
the average NVDA stock price target of $648.01 implies an upside potential of 30.96% from current levels.
Bottom Line
Nvidia stands to gain substantially from the solid demand for its accelerated computing and AI solutions, which will boost its Data Center segment’s performance. Additionally, the company is broadening its enterprise portfolio and is well-positioned to capitalize on the opportunities arising from heightened demand from cloud service providers and consumer internet companies. Beyond the momentum in the Data Center segment, Nvidia is also set to gain from the acceleration in the Gaming division.
To summarise, this trending Reddit stock has solid long-term prospects. This is reflected in the analysts’ Strong Buy consensus rating.
Disclosure
U.S. stock index futures edged higher on Friday as Treasury yields extended declines from the previous session, and as weak recent economic data cemented hopes that the Federal Reserve is most likely done raising interest rates.
On Wednesday, cloud and enterprise software giant Microsoft (NASDAQ: MSFT) held its Ignite conference, which included a bunch of exciting announcements. Unsurprisingly, many centered on artificial intelligence (AI), where Microsoft is perceived to have an early lead thanks to its