5 Best Quality Stocks to Buy Now

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In this article, we will take a look at the 5 best quality stocks to buy now. If you want to see more stocks in this selection, go to the 11 Best Quality Stocks to Buy Now.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 89

NVIDIA Corporation (NASDAQ:NVDA) is a Santa Clara, California-based company that is considered a pioneer in the field of graphic processing units (GPUs).

On November 17, Rajvindra Gill at Needham increased the target price for NVIDIA Corporation (NASDAQ:NVDA) from $155 to $200 and reiterated a Buy rating on the stock. The analyst highlighted that the company’s Q3 2022 results were strong, with the revenue guidance for the data center industry looking slightly higher than anticipated. Despite the macroeconomic challenges, NVIDIA Corporation (NASDAQ:NVDA) is performing well, which makes it one of the best quality stocks to buy now. NVIDIA Corporation (NASDAQ:NVDA) will also be a beneficiary of the new product cycle in the gaming and data center industry, with an expectation of quarter-over-quarter (QoQ) growth in 2023.

Here’s what ClearBridge Investments said about NVIDIA Corporation (NASDAQ:NVDA) in its Q2 2022 investor letter:

“Chipmaker Nvidia (NASDAQ:NVDA) has also been pressured by multiple compression of higher growth companies and weakness in its gaming business. While Nvidia has grown into a top 10 position with its strong performance through late 2021, we have been consistently trimming the position to derisk against short-term volatility in its gaming business. The company is clearly exposed to the semiconductor cycle but also participates in the secular growth of cloud and AI adoption through its data center business. With these secular drivers intact and new products ramping up in the second half of the year, we are maintaining an overweight to the company.”

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