10 Best Long Term Tech Stocks to Buy Right Now

5) NVIDIA Corporation (NASDAQ:NVDA)

10-Year Revenue Growth: ~37.8%

Number of Hedge Fund Holders: 223

NVIDIA Corporation (NASDAQ:NVDA) offers graphics and compute and networking solutions. Tristan Gerra, an analyst from Robert W. Baird, maintained a “Buy” rating on the company’s stock. The associated price target stood at $195.00. The analyst’s rating is backed by a combination of factors reflecting NVIDIA Corporation (NASDAQ:NVDA)’s healthy market positioning and future growth potential. As per the analyst, the company’s advancements in AI data centers and their healthy relationships with renowned enterprise customers such as Ali and Tencent continue to drive the surge in orders.

Furthermore, the company’s integration of DSP on ASIC also showcases its support for emerging technologies such as CPOs and LPOs. Overall, the firm’s price target is backed by NVIDIA Corporation (NASDAQ:NVDA)’s healthy positioning and performance gains. The AI infrastructure build-out has been a major tailwind for the company. Notably, cloud service providers, consumer internet companies, and sovereign states continue to fuel demand for AI computing power. These favourable measures are expected to help NVIDIA Corporation (NASDAQ:NVDA)’s growth trajectory over the upcoming years.

Mairs & Power, an investment advisor, released the Q4 2024 investor letter. Here is what the fund said:

“We prefer to invest in our backyard, as Minnesota and the Upper Midwest are blessed with a rich and diverse business community. As such, seven out of our 10 largest relative bets are based in our region (MN, WI, IA, SD, ND, IL). That said, we are unafraid to look beyond our geographic area if we find exceptional opportunities. In 2019, we found such an opportunity in a graphics processing technology company called NVIDIA Corporation (NASDAQ:NVDA). At the time, we felt NVIDIA would be a good way to leverage the growing interest in video games, as most of its chips were popular amongst “gamers” to enhance graphics. But what really grabbed our interest was its smaller, albeit faster-growing, data center business that was positioned to benefit from the emergence of high-performance computing, such as deep learning and machine learning, and the related field of AI. The rest, as they say, is history. NVIDIA is one of a number of Technology holdings that we have added over the past decade, which has raised eyebrows since our Firm was well-known for avoiding the Tech Bubble in the late 1990s. Unlike the dot-com companies that operated at the turn-of-the-century, many of today’s technology companies are established businesses with significant cash flows. We have argued, and continue to argue, that many of these investments are perfectly aligned with our investments process in that they embody durable competitive advantages, above-average growth prospects, and excellent management teams.”