5 Best Big Company Stocks to Buy

In this article, we will take a look at the 5 best big company stocks to buy. To see more such companies, go directly to 12 Best Big Company Stocks to Buy.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 175

NVIDIA Corporation (NASDAQ:NVDA) remains the top semiconductor stock when it comes to the AI market segment. NVIDIA Corporation (NASDAQ:NVDA) has already gained about 212% year to date through October 6.  Oppenheimer analysts recently conducted channel checks and came out with some top semiconductor picks. These stocks include NVIDIA Corporation (NASDAQ:NVDA), Monolithic Power (NASDAQ:MPWR), Broadcom (NASDAQ:AVGO) and Marvell Technology (NASDAQ:MRVL).

A total of 175 hedge funds tracked by Insider Monkey reported owning stakes in NVIDIA Corporation (NASDAQ:NVDA). The biggest stakeholder of NVIDIA Corporation (NASDAQ:NVDA) was Rajiv Jain’s GQG Partners which owns a $6 billion stake in the company.

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)