10 Best Stocks to Buy and Hold For 3 Years

4. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Funds: 193

NVIDIA Corporation (NASDAQ:NVDA) is one of the leading GPU makers internationally, which is driving the AI revolution. It had previously revolutionized the gaming industry through its technology, now its GPUs are the powerhouse for data centers, robotics, autonomous vehicles, and more.

The company has been generating substantial income through its revolutionary technology. Over the past 5 years, NVIDIA Corporation (NASDAQ:NVDA) has grown its top line by 62% and bottom line by 92%. During its third quarter of fiscal 2024, it generated $35.1 billion in revenue, indicating 94% year-over-year. While the gaming segment contributed $3.8 billion to the total, data center revenue stood out after growing 112% to contribute $30.8 billion.

NVIDIA Corporation’s (NASDAQ:NVDA) Blackwell architecture has been a significant advancement in GPU technology, particularly with its flagship GB200 GPU. The demand for the Blackwell and Hopper platforms has driven substantial revenue growth in the company’s Data Center segment. Sales of the H200 GPU have surged into double-digit billions, marking it as one of the fastest product ramp-ups in NVIDIA’s history. It is one of the best stocks to buy and hold for 3 years.

Ithaka Group’s Ithaka US Growth Strategy stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its Q2 2024 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) is the market leader in visual computing through the production of high-performance graphics processing units (GPUs). The company targets four large and growing markets: Gaming, Professional Visualization, Data Center, and Automotive. NVIDIA’s products have the potential to lead and disrupt some of the most exciting areas of computing, including: data center acceleration, artifi cial intelligence (AI), machine learning, and autonomous driving. The reason for the stock’s appreciation in the quarter was twofold: First, the stock benefi ted from tremendous excitement surrounding the further development of generative AI and the likelihood this would necessitate the purchase of a large number of Nvidia’s products far into the future; Second, Nvidia posted another strong beat[1]and-raise quarter, where the company upped its F2Q25 revenue guidance above Street estimates, showcasing its dominant position in the buildout of today’s accelerated computing infrastructure.”