5 Stocks That Will Double in the Next 5 Years

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​1. NVIDIA Corporation (NASDAQ:NVDA)

EPS Growth This Year: 73.99%

EPS Growth Next 5 Years: 39.56%

Number of Hedge Fund Holders: 264

​NVIDIA Corporation (NASDAQ:NVDA) is among the Stocks That Will Double in the Next 5 Years.

​On April 15, Reuters reported that Cadence Design Systems and NVIDIA Corporation (NASDAQ:NVDA) have entered a partnership to enhance the development of AI for robots. The report highlighted that Cadence is working with Nvidia to integrate its physical engines, which will allow Nvidia to train robots inside computer simulations.

​This is important for Nvidia as training robots inside simulations can shrink training time, and Cadence’s physics engines help in such tasks. Cadence CEO Anirudh Devgan noted that more precisely generated data improves AI model quality. Devgan also emphasized how these tools enhance AI system design processes.

​That said, the street is bullish on NVIDIA Corporation (NASDAQ:NVDA), as 93% of the 70 analysts covering the stock maintain a Buy rating on the share. The average 12-month price target suggests more than 32% upside from the current level.

NVIDIA Corp. (NASDAQ:NVDA) designs and manufactures graphics processing units (GPUs), system-on-a-chip units (SoCs), and AI hardware and software. Its GPUs are used in gaming, high-performance computing, AI training, and inference and serve as the backbone of data center infrastructure worldwide.

While we acknowledge the potential of NVDA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 7 Hot Growth Stocks to Invest in Right Now and 7 Ridiculously Cheap Stocks to Buy According to Wall Street Analysts. 

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