• Thu. Jun 6th, 2024

Here’s Why Adding This Computer and Technology Stock to Your Portfolio Could Be a Smart Move

Byeditor

Mar 25, 2024

For beginner investors, the task of building a portfolio from scratch can seem daunting. A proven strategy to start is by focusing on stocks that have the potential to outperform the market in the next 12 months, as this can lead to strong returns.

Now, let’s explore a promising stock that could be a valuable addition to your portfolio: Nvidia (NVDA). Known as the worldwide leader in visual computing technologies, Nvidia has transitioned from PC graphics to AI-based solutions that support various high-performance computing applications, gaming, and virtual reality platforms.

Added to the Zacks Focus List in May 2019 at $39.13 per share, Nvidia’s stock price has soared by 2309.63% to $942.89. With 15 analysts revising their earnings estimates upwards for fiscal 2025, the Zacks Consensus Estimate for Nvidia has increased to $23.80. The company has an impressive average earnings surprise of 20.2%, and analysts are projecting an 83.6% growth in earnings for the current fiscal year.

Stock prices often respond to earnings estimate revisions, making it profitable to invest in stocks with improved earnings outlooks. By investing in a Focus List stock like Nvidia, investors can potentially benefit from future earnings estimate increases, leading to upward price momentum.

For the latest recommendations from Zacks Investment Research, you can download the 7 Best Stocks for the Next 30 Days report for free. Visit the Zacks website to read more about Nvidia Corporation (NVDA) and their stock analysis.

By editor

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