5 Best Stocks To Buy and Hold Forever

4. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 173

NVIDIA Corporation (NASDAQ:NVDA) is a leading provider of graphics, computing, and networking solutions globally. It offers GPUs for gaming, PCs, enterprise workstations, cloud-based computing solutions, data center computing platforms, automotive platforms, and embedded systems. NVIDIA Corporation (NASDAQ:NVDA) is one of the best stocks to buy. 

On February 21, NVIDIA Corporation (NASDAQ:NVDA) reported a Q4 non-GAAP EPS of $5.16 and a revenue of $22.1 billion, outperforming Wall Street estimates by $0.52 and $1.55 billion, respectively. Revenue for the period rose 265.3% on a year-over-year basis. 

According to Insider Monkey’s fourth quarter database, 173 hedge funds were long NVIDIA Corporation (NASDAQ:NVDA), compared to 180 funds in the last quarter. Rajiv Jain’s GQG Partners is a prominent stakeholder of the company, with 13.90 million shares worth $6.8 billion. 

Alger Spectra Fund stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its fourth quarter 2023 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) is a leading supplier of graphics processing units (GPUs) for a variety of end markets, such as gaming, PCs, data centers, virtual reality and high-performance computing. The company is leading in most secular growth categories in computing, and especially artificial intelligence and super- computing parallel processing techniques for solving complex computational problems. Simply put, Nvidia’s computational power is a critical enabler of Al and therefore critical to Al adoption, in our view. During the period, shares contributed to performance as Nvidia reported solid fiscal third quarter results well above analyst expectations, driven by strong demand from data centers. Growing Al data center workloads are driving demand for the increased interconnections and fully accelerated software stacks, thereby enabling leading application performance and fast result times.”