NVIDIA (NVDA): One of the Best Monopoly Stocks to Buy According to Hedge Funds

NVIDIA Corporation (NASDAQ:NVDA) is one of the Best Monopoly Stocks to Buy According to Hedge Funds. On July 8, TD Cowen analyst Joshua Buchalter reiterated a “Buy” rating on the company’s stock and the price objective of $275. The analyst opines that NVIDIA Corporation (NASDAQ:NVDA) possesses an underappreciated competitive edge in the next phase of AI. This is because it provides an integrated hardware and software platform, which works seamlessly together. The analyst remains confident that AI spending is durable throughout different applications and customers.

NVIDIA (NVDA): One of the Best Monopoly Stocks to Buy According to Hedge Funds

Furthermore, industry-specific AI deployments are expected to be a much larger growth driver over time.

In a separate update, James Schneider, an analyst at Goldman Sachs, believes that NVIDIA Corporation (NASDAQ:NVDA) has been left out of the current rally seen in microchip stocks. This offers an opportunity for investors. The analyst has a “Buy” rating and a price objective of $285.

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 Best FMCG Stocks to Invest In According to Analysts and 11 Best Long-Term Tech Stocks to Buy According to Analysts.

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1