10 Best Stocks to Buy and Hold For 5 Years

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 179

NVIDIA Corporation (NASDAQ:NVDA) ranks third on our list of the best stocks to buy and hold for 5 years. NVIDIA is a leading GPU maker driving innovation in artificial intelligence, gaming, creative design, autonomous vehicles, and robotics.

There is no doubt about NVIDIA’s position in the technology and AI sector. As part of its recent updates, On October 29, the company revealed Enterprise Reference Architectures. These blueprints will help the company’s partners and customers build AI factories. More recently, on November 6, NVIDIA Corporation (NASDAQ:NVDA) partnered with Hugging Face to fuel open-source AI robotics research and development.

NVIDIA Corporation (NASDAQ:NVDA) is scheduled to release earnings towards the end of this month, on November 20, 2024. In light of its awaited earning release, on October 19, Vivek Arya analyst at Bank of America, joined CNBC to defend his bullish call on NVDA. Having called the stock a “generational opportunity,” Arya emphasizes that NVDA is trading less than one times its earnings growth, much lower than other names in the magnificent seven. He suggests that NVDA celebrates a large ecosystem encompassing “end-to-end” knowledge, placing it ahead of competitors.

Overall, NVIDIA Corporation (NASDAQ:NVDA) is on our list because of its resources and expertise in scalable AI hardware and software solutions. At the end of Q2 2024, 179 hedge funds were bullish on the stock, according to our Insider Monkey database.

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.”