5 Best Augmented Reality Stocks to Invest In

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 89

NVIDIA Corporation (NASDAQ:NVDA) is a California-based company specializing in graphics, computing, semiconductors, and networking solutions. NVIDIA CloudXR, a next-gen innovation built on NVIDIA RTX technology, delivers VR and AR across 5G and Wi-Fi networks. NVIDIA Corporation (NASDAQ:NVDA) is one of the premier augmented reality stocks to buy now. 

Needham analyst Rajvindra Gill on November 17 raised the price target on NVIDIA Corporation (NASDAQ:NVDA) to $200 from $155 and maintained a Buy rating on the shares. The company’s Q3 results were “solid” with data center revenue outlook slightly higher despite soft China data center sales, the analyst told investors. He added that while China still weighs on overall results, NVIDIA Corporation (NASDAQ:NVDA) is executing well in the face of these headwinds.

According to Insider Monkey’s Q3 data, 89 hedge funds were bullish on NVIDIA Corporation (NASDAQ:NVDA), compared to 84 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is a significant position holder in the company, with 12.10 million shares worth about $1.5 billion. 

Vulcan Value Partners made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2022 investor letter:

“We also sold NVIDIA Corporation (NASDAQ:NVDA) during the quarter to allocate capital to new purchases and to add to existing positions in the portfolio. NVIDIA is facing multiple headwinds. Data center revenue growth is slowing, gaming revenue growth is declining, and the United States has issued new export controls to China that impact NVDIA’s products. We believe NVDIA’s competitive advantages are intact, and it remains on our MVP list. In the right circumstances we would be delighted to own it in the future.”