5 Best Beginner Stocks To Buy Now

In this article, we will take a look at the 5 best beginner stocks to buy now. To see more such companies, go directly to 15 Best Beginner Stocks To Buy Now.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 175

Nvidia is expected to remain a dominant player in the AI chips market for several years to come. In later August Phillip Securities upgraded the stock to Buy from Accumulate with a $645 price target, up from $440. The firm likes Nvidia’s data center strengths and its monopoly-like status in the generative AI chips space.

Harding Loevner Global Equity Strategy made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q2 2023 investor letter:

NVIDIA Corporation (NASDAQ:NVDA) has been the biggest beneficiary this year in terms of its stock run and projected revenue gains. More companies- including, perhaps, some not yet in existence-will certainly join the ranks over time.

In the meantime, NVIDIA has emerged as the unrivaled global leader in providing the technologies at the center of the Al arms race. NVIDIA’s competitive advantage is the result of investments that began two decades ago, when it recognized an early opportunity to repurpose its video-game graphics chips for the heavy-load computing done in scientific research. This led management to expand the GPU business. It also spent years and significant resources developing a free software platform that’s exclusive to its chips called CUDA that allows developers to easily program its GPUs for a variety of computationally intensive applications. Researchers then began using both NVIDIA’s chips and CUDA to train the human-brain-inspired neural networks that power Al models.

Now, due to an explosion of demand related to generative Al and LLMs from across its customer base, NVIDIA projects that data-center revenue for its fiscal second quarter ending in July will surge to US$11 billion. Not only is that more than double last quarter’s total, but the forecast also shattered the average analyst estimate that called for about US$7 billion. Taking advantage of the stock’s meteoric rise, we reduced our holding (it has risen tenfold since we first purchased in 2018)…” (Click here to read the full text)