12 Best Dow Stocks to Buy Right Now

Page 9 of 11

3. NVIDIA Corporation (NASDAQ:NVDA)

No. of Hedge Fund Holders: 193

NVIDIA Corporation (NASDAQ:NVDA) is the most discussed company in this AI boom, renowned for its semiconductor business and its groundbreaking AI GPUs, gaming, and data centres.

NVIDIA continues to grow its earnings driven by high demand for its AI products and services. The company delivered another record quarter in Q4 2024. NVIDIA Corporation posted quarterly revenue of $22.1 billion, up by 265% year-over-year and well above the $20 billion quarterly outlook. The full-year 2024 revenue was $60.9 billion, up 126% from a year ago.

For the first quarter of 2025, the company expects revenue to be around $24 billion, above or below 2%. NVDA expects sequential growth in data centres, mainly driven by the seasonal decline in gaming. Barclays analyst Tom O’Malley expects NVIDIA Corporation’s GPU sales to reach $100 billion in 2024 and projects them to grow to $160 billion in 2025. The analyst pointed out that custom silicon will grow at a faster CAGR of 55% in the next three years, and NVDA will significantly benefit from it.

Page 9 of 11