12 Best WallStreetBets Stocks To Buy According to Hedge Funds

2. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 223

Stifel analysts upheld their “Buy” rating on NVIDIA Corporation (NASDAQ:NVDA)’s stock and a price objective of $180.00. The firm’s analysts opine that, while the current developments result in increased uncertainty and near-term pressure in the broader market, the long-term outlook for NVIDIA Corporation (NASDAQ:NVDA) remains positive. According to them, despite the challenges coming from the new export controls, its growth narrative remains credible and strong.

As per the company’s regulatory filing, the US government informed NVIDIA Corporation (NASDAQ:NVDA) that the government requires a license for export to China (including Hong Kong and Macau) and D:5 countries, or to companies headquartered or with an ultimate parent therein, of the company’s H20 integrated circuits and any other circuits achieving the H20’s memory bandwidth, interconnect bandwidth, or combination. NVIDIA Corporation (NASDAQ:NVDA) announced that its Q1 results are expected to include up to ~$5.5 billion of charges associated with H20 products for inventory, purchase commitments, and related reserves. Elsewhere, TD Cowen lauded the company’s leadership in AI and its robust product pipeline, despite the challenges associated with the Chinese market.

Parnassus Investments, an investment management company, released its Q4 2024 investor letter. Here is what the fund said:

“NVIDIA Corporation (NASDAQ:NVDA) continued to lead the market for graphics processing units and semiconductor chips needed to power AI applications. Because our position in the stock is an underweight relative to the nearly 12% of the benchmark it now represents, it was a relative detractor for the year.”