15 Best Stocks to Buy According to Jim Simons’ Renaissance Technologies

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11. NVIDIA Corporation (NASDAQ:NVDA)

Renaissance Technologies Q4 Stake: $476.9 million

Number of Hedge Fund Holders: 223

NVIDIA Corporation (NASDAQ:NVDA), a world leader in networking and graphics processing, provides GPUs for the AI, gaming, HPC, and other industries. The company’s products span data centers, gaming, professional visualization, and the automotive markets.

Piper Sandler maintained its $150 price target and reiterated its Overweight rating on NVIDIA Corporation (NASDAQ:NVDA) stock on May 5. The firm conducted a sensitivity analysis on NVIDIA’s data center revenues to assess the potential impact of a slowdown in capital expenditures. The analysis revealed that roughly 6.45% of the company’s overall data center revenue could be at risk, which could have a $0.40 impact on earnings per share.

On the other hand, amid reports that the Trump administration plans to withdraw Biden-era AI chip curbs, which could possibly alter semiconductor trade restrictions, NVIDIA Corporation (NASDAQ:NVDA) shares surged to a session high of 2.6% on May 7. According to Bloomberg, the news suggests that regulations that have caused friction between governments and major tech companies worldwide may be loosened. The planned policy shift is part of a broader initiative to reconsider chip exports from companies like NVIDIA.

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