Market Overview

Chowdhry: Betting Against Nvidia Is 'Insane' And Stupid

Chowdhry: Betting Against Nvidia Is 'Insane' And Stupid
Related NVDA
Tech Sector Earnings: Revenue Growth Widely Expected To Slow, Will Global Uncertainty Weigh?
Benzinga's Bulls & Bears Of The Week: Delta Air, McDonald's, Netflix, Nokia, Tesla And More
SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in ... (GuruFocus)

NVIDIA Corporation (NASDAQ: NVDA) has been one of the hottest stocks in the market in recent years, soaring more than 750 percent in the past three years alone. But while some analysts and investors believe Nvidia’s valuation has expanded to troubling levels at this point, at least one analysts says these types of concerns are crazy.

On Thursday, Global Equities research analyst Trip Chowdhry said Nvidia will continue to experience secular growth from the rise of deep neural networks.

“Betting against NVDA is not only insane but total stupidity,” Chowdhry wrote.

Related Link: What Is Machine Learning? Deep Learning? Here's Your AI Glossary

Companies working on deep neural network algorithms will continue to expand their datasets, increasing the number of neural network nodes and creating new layers. These steps will be a crucial part of increasing performance, Chowdhry said.

As a result, machine learning and deep learning technology leaders, including Microsoft Corporation (NASDAQ: MSFT),, Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL), Baidu Inc (ADR) (NASDAQ: BIDU), Tesla Inc (NASDAQ: TSLA) and NetGear, Inc. (NASDAQ: NTGR) will be clamoring to expand demand for Nvidia’s products in coming years.

“The above dynamics will continue to create secular growth trends for NVDA,” Chowdhry concluded.

Global Equities Research has raised its price target for Nvidia to $200 and named it one of four high-conviction stocks to own in the second half of the year. The other stocks to own include Microsoft ($85 price target), NetGear ($105 price target) and Tesla ($485 price target).

Earlier this month, Chowdhry reiterated his view that the social media market is approaching the saturation point and Snap Inc (NYSE: SNAP) is “total junk.”

Image Credit: By yoggy0 from Yokohama, Japan (SIGGRAPH Asia 2009) [CC BY 2.0], via Wikimedia Commons

Latest Ratings for NVDA

Dec 2018RBC CapitalReiteratesOutperformOutperform
Dec 2018RBC CapitalMaintainsOutperformOutperform
Nov 2018Credit SuisseInitiates Coverage OnOutperform

View More Analyst Ratings for NVDA
View the Latest Analyst Ratings

Posted-In: Global Equities ResearchAnalyst Color Long Ideas Price Target Top Stories Analyst Ratings Tech Trading Ideas Best of Benzinga


Related Articles (AAPL + AMZN)

View Comments and Join the Discussion!

Latest Ratings

CNPRBC CapitalUpgrades34.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

15 Biggest Mid-Day Losers For Thursday

L Brands: 4 Reasons For Concern