Looking Toward Nvidia's 2016 Boom To Pick The Next Big Tech Stock

Willard, a former hedge fund manager and the publisher of the blog "Trading With Cody," was on Tuesday's episode of Benzinga's PreMarket Prep where he discussed his history trading tech stocks, including his most recent position with Nvidia.

A History Of Hits

Willard's track record trading in the tech sector is prolific and impressive. "My biggest positions are Apple Inc. AAPL, which I’ve owned since march 2003 with $1 cost basis on my first shares. I’ve owned Alphabet Inc GOOG GOOGL since the day it went public with about a $45 cost basis. NVDA is my biggest home run this year."

However, he did want to stress that not all of his picks were as successful, pointing specifically to Fitbit Inc FIT's 2016 dip.

Picking Winners

Willard bought in on Nvidia late in 2015 when the stock was still below $30. He said the reason Nvidia stood out was based on the company's market position relative to where the technology industry is currently headed. "I think A.I. and self-driving cars and so much of the stuff that Nvidia positioned itself for, in the next five years will probably be where the next big hit lands."

Generally, Willard said he looks for technology companies that are in a position not only to disrupt the industry, but to revolutionize the world. "If any company can find a way to become the de facto standard in that industry, that company will be worth tens of billions of dollars."

The Next Nvidia

While he was on the show, Willard shared his thoughts on what technology could end up generating the next market mover. He mentioned cloud computing and application development, but singled out RFID technology and its possible application in Amazon.com, Inc. AMZN proposed automated checkout grocery stores.

Listen to the full explanation from in the clip below.

PreMarket Prep is a daily morning show about short term trading ideas and technical setups. It airs live from 8–9 ET here, and the podcast is here.