5 Market-Moving Stocks to Watch on Monday

2. NVIDIA Corporation (NASDAQ:NVDA) has jumped 0.50% as of 12:59 PM ET after the Santa Clara, California-based graphic processing unit (GPU) manufacturer was selected as one of the top stock picks in the US semiconductor sector by Atif Malik at Citi. The US semiconductor sector has the cloud, cars, and capital expenditure as the three key themes. The sector is also facing an uncertain macroeconomic situation, which has resulted in a 36% contraction in the P/E multiple. Malik thinks that NVIDIA Corporation (NASDAQ:NVDA) will experience “resilient demand” because of networking product cycles and hyper-scale builds in the future.

NVIDIA Corporation (NASDAQ:NVDA) was mentioned in the Q1 2022 investor letter of ClearBridge Investments. Here’s what the investment management firm said:

“Gaming is an attractive end market within the media/technology sector with strong growth and a long runway, particularly in mobile gaming. Unity’s platform provides an engine and toolkit for development and monetization of games, e-commerce and industrial applications, adding to our industry exposure, which also includes Nvidia (NASDAQ:NVDA) in graphic processing chips.”

Overall, 102 hedge funds reported owning a stake in NVIDIA Corporation (NASDAQ:NVDA) at the end of Q1 2022.