1. NVIDIA Corporation (NASDAQ:NVDA)
Stock Upside Potential: 26.05%
Market Capitalization: $5.37 Trillion
Point 72 Asset Management Equity Stakes: $1.86 Billion
Number of Hedge Fund Holders: 264
NVIDIA Corporation (NASDAQ:NVDA) is one of billionaire Steve Cohen’s large-cap stock picks with the highest upside potential. On May 11, analysts at UBS reiterated a Buy rating on NVIDIA Corporation (NASDAQ:NVDA) and a $245 price target.
The research firm remains bullish about Nvidia’s long-term outlook after the Taiwan Ministry of Finance announced April export data showing Automatic Data Processing equipment reached $23.5 billion, down 28.5% month over month. While a significant drop, it reflects normalization following the March exceptional 127.7% increase due to post-Lunar New Year catch-up activity.
On the other hand, the $23.5 billion absolute figure remains elevated, affirming healthy underlying artificial intelligence-driven demand.
Earlier, Reuters reported that NVIDIA and South Korean tech giant LG Electronics are joining forces to cooperate on robotics, AI data centers, and mobility. The collaboration follows a visit by Nvidia’s senior director for Physical AI, Madison Huang, to LG Electronics. The pact underscores growing collaboration opportunities between hardware manufacturers, including LG, and AI chipmakers. It also underscores the push for growth opportunities in future-facing technologies.
NVIDIA Corporation (NASDAQ:NVDA) is a technology company that pioneered GPU-accelerated computing, specializing in the design of graphics processing units (GPUs), application programming interfaces (APIs), and systems-on-a-chip (SoCs). It dominates the AI hardware market, powering data centers, gaming, professional visualization, and automotive AI, and provides the software stack (e.g., CUDA) for high-performance computing and AI training.
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.
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