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Why Investing in this Computer and Technology Stock Could Enhance Your Portfolio

Byeditor

Mar 25, 2024

For beginner investors, building a portfolio from scratch may seem daunting, but starting by looking at stocks that are projected to outperform the market in the next year can be a solid strategy. One great stock to consider adding to your portfolio is Nvidia (NVDA).

Nvidia is a global leader in visual computing technologies, known for inventing the graphic processing unit (GPU). The company has shifted its focus from PC graphics to AI-based solutions that support HPC, gaming, and VR platforms.

NVDA was added to the Zacks Focus List in May 2019 at $39.13 per share and has seen a significant increase in share price since then. Analysts have revised their earnings estimates upwards for NVDA, with a projected 83.6% growth in earnings for the current fiscal year.

Stock prices often respond to earnings estimate revisions, making it profitable to invest in companies with a positive outlook. By investing in a Focus List stock like NVDA, you could benefit from potential price momentum driven by increased earnings estimates.

If you’re looking for the latest stock recommendations from Zacks Investment Research, you can download the 7 Best Stocks for the Next 30 Days report for free.

By editor

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