5 Best Long-Term Stocks To Buy Now

4. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 84

NVIDIA Corporation (NASDAQ:NVDA) is a secular growth company and a leader in semiconductors, AI, machine learning, and data centers. At the end of the second quarter of 2022, 84 hedge funds were long NVIDIA Corporation (NASDAQ:NVDA) and held stakes worth $3.3 billion in the company. Of those, Fisher Asset Management was the leading shareholder with stakes worth $1.15 billion.

Over the past ten years, NVIDIA Corporation (NASDAQ:NVDA) has returned 45.36% to shareholders, outpacing the S&P 500’s return of 12% for the same period. The stock is one of the best long-term stocks to buy now.

On September 21, Susquehanna analyst Christopher Rolland revised his price target on NVIDIA Corporation (NASDAQ:NVDA) to $190 from $200 and maintained a Positive rating on the shares. This September, JPMorgan analyst Harlan Sur maintained an Overweight rating on NVIDIA Corporation (NASDAQ:NVDA) and his $220 price target on the shares.

Here is what Baron Funds had to say about NVIDIA Corporation (NASDAQ:NVDA) in its second-quarter 2022 investor letter:

“At the company-specific level, there was a broad correction across the entire portfolio. While four of our holdings contributed to performance, the contribution to absolute returns was less than 100bps combined, as unfortunately none of them were large enough to move the needle. We had 16 investments detracting over 100bps each with NVIDIA (NASDAQ:NVDA), our second largest detractor, costing the Fund 254bps.

NVIDIA’s stock was hit even harder, down 44.4%, impacted by concerns over the health of the consumer, dramatic declines in crypto, and COVID-related lockdowns in China. Despite the sell-off and the increased near-term volatility in its gaming business, NVIDIA’s revenues grew 46% year-over-year with 48% operating margins, driven by continued strength in its data center business as companies across industries adopt AI and ML…” (Click here to see the full text)