13 Best Big Tech Stocks To Buy Now

Page 7 of 12

6. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 179

NVIDIA Corporation (NASDAQ:NVDA) is perhaps the most famous semiconductor company in the market right now. It is based in Santa Clara, California.

While the semiconductor sector has historically been highly cyclical, meaning that stocks like NVIDIA Corporation (NASDAQ:NVDA) tend to go through boom and bust cycles in line with the economy, this chip maker’s recent performance has been such that investors are confident in its ability to weather any storm. Over the past four quarters, NVIDIA Corporation (NASDAQ:NVDA) has posted record results, with profit margins expanding to over 60%.

The driving force behind these results is the fact that NVIDIA Corporation (NASDAQ:NVDA) products are seeing high demand from almost every cloud infrastructure company and AI start-up. Because of this demand, investors believe that NVIDIA Corporation (NASDAQ:NVDA) could continue to do well even in a recession. In fact, NVIDIA Corporation (NASDAQ:NVDA) is seeing so much demand that it’s struggling to meet the needs of those vying for its components – this then has become one of the biggest challenges for the company, with CEO Jensen Huang beginning to feel the pressure to deliver more Nvidia products to a growing number of customers.

In total, 179 hedge funds were long NVIDIA Corporation (NASDAQ:NVDA) in the second quarter, with a total stake value of $53.7 billion.

Page 7 of 12