Below we presented the list of 5 Best Quantum Computing Stocks to Buy Now. For our detailed discussion and a more comprehensive list please see 11 Best Quantum Computing Stocks to Buy Now.
5. Nvidia Corporation (NASDAQ:NVDA)
No of HFs: 82
Total Value of HF Holdings: $7.67 Billion
The 5th best quantum computing stock to buy now is NVDA. The top hedge fund holder of this stock is Anna Nikolayevsky’s Axel Capital Management which had $2 million invested in the stock at the end of December. An insider purchased 100 shares at around $537 in December 2020. The stock remained the same since then. In an article, Vulcan Value Partners mentioned that NVIDIA’s value grew substantially while they owned it, and they continued to follow their discipline by trimming and adding to the company as its price fluctuated
“NVIDIA Corp. is the dominant supplier of Graphics Processing Units (GPUs) worldwide. During the first quarter of 2019, its stock price declined considerably due to the combination of three factors. A capital spending hiatus by cloud providers, the collapse in demand for cryptocurrency mining, along with the end of the product cycle in its most recent gaming chip caused NVIDIA to miss its quarterly earnings estimates. As a result, we were given the opportunity to purchase NVIDIA with a significant margin of safety in March of 2019. NVIDIA’s value grew substantially while we owned it, and we continued to follow our discipline by trimming and adding to the company as its price fluctuated. We exited NVIDIA when its stock price rose close to our estimate of fair value. The combination of its value growth and the closing of the price to value gap provided substantial returns over our investment period.”