Nvidia (NVDA) Has an Unprecedented Competitive Edge, Says TD Cowen

NVIDIA Corporation (NASDAQ:NVDA) is one of the Best Stocks to Buy Now for High Returns. The stock remained mostly flat over the past month, with only a 1.18% gain. However, the Street remains bullish on the stock with analysts expecting more than 47% upside over the next 12-months.

​Recently, on July 8, TD Cowen analyst Joshua Buchalter reiterated a Buy rating on NVIDIA Corporation (NASDAQ:NVDA) with a $275 price target. The analyst noted that Nvidia has an unprecedented competitive edge as AI moves beyond chatbots into industries like healthcare and robotics. He added that this edge comes from the company’s integrated hardware and software platform, which has the potential to work seamlessly together.

The analyst added that he gained confidence from the company’s  investor lunch with TD Cowen. The discussions with the management reinforced his view that AI spending remains durable across a range of applications and customers. The firm remains confident in the long-term potential of Nvidia as AI adoption broadens.

NVIDIA Corporation (NASDAQ:NVDA) is a fabless semiconductor and AI computing company that designs GPUs, AI accelerators, Application Programming Interfaces (APIs), and system-on-a-chip units. Through its CUDA ecosystem, the company enables industries ranging from autonomous vehicles to scientific research by advancing AI, accelerated computing, and data center infrastructure.

While we acknowledge the risk and potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVDA and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT:  10 Good Stocks to Invest in Now and 10 Most Undervalued US Stocks According to Hedge Funds. 

Disclosure: None. Follow Insider Monkey on Google News.