5 Best Military Drone Stocks to Invest In

1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 84  

NVIDIA Corporation (NASDAQ:NVDA) provides graphics, compute, and networking solutions in the United States, Taiwan, China, and internationally. It is one of the prominent drone stocks to invest in. On October 15, NVIDIA stated that it is launching the GeForce RTX 4080 12GB graphic cards.

On October 18, Deutsche Bank analyst Ross Seymore maintained a Hold rating on NVIDIA Corporation (NASDAQ:NVDA) stock and lowered the price target to $140 from $165, noting that the company expects Q3 earnings to yield more pervasive signs of weakness. 

At the end of the second quarter of 2022, 84 hedge funds in the database of Insider Monkey held stakes worth $3.3 billion in NVIDIA Corporation (NASDAQ:NVDA), compared to 102 in the preceding quarter worth $36.4 billion. 

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and NVIDIA Corporation (NASDAQ:NVDA) was one of them. Here is what the fund said:

“At the company-specific level, there was a broad correction across the entire portfolio. While four of our holdings contributed to performance, the contribution to absolute returns was less than 100bps combined, as unfortunately none of them were large enough to move the needle. We had 16 investments detracting over 100bps each with NVIDIA Corporation (NASDAQ:NVDA), our second largest detractor, costing the Fund 254bps.

NVIDIA’s stock was hit even harder, down 44.4%, impacted by concerns over the health of the consumer, dramatic declines in crypto, and COVID-related lockdowns in China. Despite the sell-off and the increased near-term volatility in its gaming business, NVIDIA’s revenues grew 46% year-over-year with 48% operating margins, driven by continued strength in its data center business as companies across industries adopt AI and ML…(read more)

You can also take a peek at 10 Best MLP Dividend Stocks to Buy and 10 Best Stocks to Buy According to Billionaire Dan Loeb.

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