NVIDIA Corporation (NASDAQ:NVDA) is one of the Top Wide Moat Stocks to Buy for Long Term Growth. On March 19, Raymond James lifted its price objective on the company’s stock to $323 from $291, while maintaining a “Strong Buy” rating. NVIDIA Corporation (NASDAQ:NVDA)’s Chief expects that the company’s flagship AI processors can help generate $1 trillion in sales through 2027. While highlighting the management’s views, the firm stated that this outlook can be conservative.
The analyst stated that, because of this new outlook, the firm lifted its estimates. Raymond James said that the thesis related to the inference as a catalyst seems to be playing out and could be marginally ahead of schedule, as highlighted by the new forecast by NVIDIA Corporation. Raymond James remains significantly optimistic about the optical exposed vendors, such as Coherent and Lumentum.
Apart from this, the firm remains optimistic about the storage vendors. These include NetApp, Everpure, and Dell, among others.
NVIDIA Corporation is a fabless semiconductor and AI computing company that designs GPUs, AI accelerators, Application Programming Interfaces (APIs), and system-on-a-chip units.
READ NEXT: 10 Best FMCG Stocks to Invest In According to Analysts and 11 Best Long-Term Tech Stocks to Buy According to Analysts.
Hedge Fund Resource Center