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Why Nvidia Will Play An 'Integral' Role In The Future Of Tech

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Why Nvidia Will Play An 'Integral' Role In The Future Of Tech
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NVIDIA Corporation (NASDAQ: NVDA) is up 103 percent year to date, but by some assessments, it can do even better.

The chipmaker has its hand in the burgeoning operations of automakers, data centers, cryptocurrency miners, virtual and augmented reality developers, and game manufacturers — each of which are considered in mere infancy.

The Expert

Loup Ventures managing partner Gene Munster maintains a positive outlook on Nvidia, but the firm does not issue ratings or price targets.

The Thesis

With strong, eSports-driven demand in gaming, widespread adoption of artificial intelligence, an impending ramp in autonomous vehicle production, and expected growth in cryptocurrency mining and augmented and virtual reality development, Nvidia is sitting pretty.

“Betting on Nvidia is betting on frontier technologies, and Nvidia has planted seeds in numerous areas that we are optimistic about,” Munster wrote in a Monday note.

He anticipates additional stock upside with 20-percent five-year annual revenue growth, in spite of competition from Intel Corporation (NASDAQ: INTC) and Advanced Micro Devices, Inc. (NASDAQ: AMD).

“Nvidia will continue to be the dominant component supplier in various spaces,” he wrote.

Price Action

Nvidia continues to trade near its all-time high struck mid-November. At time of publication, the stock was trading at $216.13.

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Latest Ratings for NVDA

DateFirmActionFromTo
Dec 2018RBC CapitalMaintainsOutperformOutperform
Nov 2018Credit SuisseInitiates Coverage OnOutperform
Nov 2018Exane BNP ParibasDowngradesNeutralUnderperform

View More Analyst Ratings for NVDA
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Posted-In: Gene Munster Loup Ventures semiconductorsAnalyst Color Top Stories Analyst Ratings Tech Best of Benzinga

 

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