5 Best Depressed Stocks To Invest In

2. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 83

Share Price (as of January 4): $287.28

Share Price Decline in 2022 as of Jan. 8: 9%

NVIDIA Corporation (NASDAQ:NVDA) is poised to enjoy a bright future, being a market leader in computer chips and graphic cards, both of which are key components in the drive towards further digitization and the Metaverse. NVIDIA Corporation (NASDAQ:NVDA) boasts dominance in the AI market and fulfills all conditions to grow its competitive advantage in AI over the years.

Research firm UBS chose NVIDIA Corporation (NASDAQ:NVDA) as one of its top semiconductor stock picks for 2022. The firm’s analyst Timothy Arcuri holds that the company will benefit from more stable revenue sources stemming from its competitive advantages in GPU and software. NVIDIA Corporation (NASDAQ:NVDA) disclosed earnings per share of $1.17, exceeding consensus estimates by $0.06.

Out of the 867 elite hedge funds tracked by Insider Monkey, 83 were long NVIDIA Corporation (NASDAQ:NVDA) at the close of the third quarter, holding positions worth roughly $10 billion. This is down from 86 hedge funds holding stakes in the company a quarter ago.

Investment firm Harding Loevner mentioned many stocks in its Q3 investment letter, and NVIDIA Corporation (NASDAQ:NVDA) was one of them. Here’s what the fund said:

“The proliferation of devices using chips, whether EVs, “things” in lol, or embedded systems more generally, results in the generation of oceans of data potentially needing to be stored, processed, and analyzed. NVIDIA, the leading chip designer wellknown for its graphic processing units and its complementary CUDA software ecosystem, is at the forefront of the effort to provide the analytical platform needed to unlock the full potential of such specialist processors.”