June 16, 2024

Invest in Nvidia: A Smart Strategy for Building a Profitable Portfolio

1 min read
Why Investing in this Computer and Technology Stock Could Enhance Your Portfolio

Building a portfolio from scratch can be intimidating for beginner investors, but focusing on stocks that are expected to outperform the market in the next year is a smart strategy. One such stock to consider adding to your portfolio is Nvidia (NVDA).

Nvidia is a global leader in visual computing technologies and has made significant strides in recent years, shifting its focus from PC graphics to AI-based solutions that support HPC, gaming, and VR platforms. This pivot has been successful, with NVDA’s share price increasing significantly since it was added to the Zacks Focus List in May 2019 at $39.13 per share.

Analysts have revised their earnings estimates upwards for NVDA, projecting an impressive 83.6% growth in earnings for the current fiscal year. This positive outlook bodes well for potential price momentum and makes investing in NVDA a profitable opportunity.

If you’re looking for the latest stock recommendations from Zacks Investment Research, download our free report titled “7 Best Stocks for the Next 30 Days.” It highlights top-performing companies across various industries and could help you build a strong portfolio from scratch or enhance your existing one.

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