Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, May 28, 2021

Article Excerpt

NVIDIA CORP., $649.78, Nasdaq symbol NVDA, remains a buy for aggressive investors. The company is a leading designer of 3D-capable video chips; they make video games run more smoothly and appear more lifelike. Nvidia has also adapted its chips for other applications, including artificial intelligence, datacentres and self-driving cars. Nvidia continues to benefit as pandemic lockdowns spur strong consumer demand for computer gaming systems. The shift by businesses to cloud-computing platforms as employees work remotely is also fuelling sales of datacentre chips. The company’s chips are also a favourite of cryptocurrency miners, who need powerful computers to verify online transactions. In turn, they get paid in the cryptocurrency of the transaction they’ve verified. Sales to miners now account for about 3% of Nvidia’s revenue. In its fiscal 2022 first quarter, ended May 2, 2021, revenue soared 83.8% to a record $5.66 billion from $3.08 billion a year earlier. That beat the consensus forecast of $5.50 billion. Part of that gain is due to the company’s…