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Will Nvidia Or Micron Stock Grow More By 2022?

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Will Nvidia Or Micron Stock Grow More By 2022?

Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

We surveyed a group of over 500 Benzinga investors on whether shares of Nvidia Corporation (NASDAQ: NVDA) or Micron Technology, Inc. (NASDAQ: MU) stock would grow the most by 2022.

Nvidia Vs. Micron Stock

Nvidia is a leading designer of graphics processing units that enhance the experience on computing platforms. The company’s chips are used in a variety of markets, including high-end PCs for gaming, in a GPU-accelerated AI shopping tool for Facebook (NASDAQ: FB) and for autonomous driving tech in many Tesla (NASDAQ: TSLA) electric vehicles.

On Nov. 18, Nvidia reported a third-quarter earnings beat. The Santa Clara-based computer game company reported quarterly sales of $4.73 billion, which beat the analyst consensus estimate of $4.41 billion by 7.26%. This is a 56.93% increase over sales of $3.01 billion in the same period last year.

In the near-term, Idaho-based computer memory and data storage producer Micron continues to garner investor attention given its marked earnings growth.

For the fourth quarter, Micron's earnings per share were up 92.86% year-over-year to $1.08, which beat the 99-cent Street estimate.

Reported fourth-quarter revenue of $6.05 billion is up by 24.35% year-over-year, beating the estimate of $5.89 billion.

Both Nvidia and Micron have been bolstered by increased demand for both the design and production of microprocessors for computer and consumer electronics.

Fifty-eight percent of investors told us shares of Nvidia will grow more by 2022, while 42% of respondents believe Micron stock will grow the most by the end of next year.

The study respondents said shares of Nvidia will rise in 2021 given increased demand for and sales of the powerful GPUs necessary for autonomous driving technologies.

Respondents also anticipate production of Nvidia’s RTX 30 graphics cards will catch up with demand in 2021, as the cards have been in otherwise short supply after their September launch.

See Also: Best Index Funds.

This survey was conducted by Benzinga in December 2020 and included the responses of a diverse population of adults 18 or older.

Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 500 adults.

Photo courtesy of Nvidia. 

 

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