In this article, we will take a look at the 5 best most active stocks to buy now. If you want to see more stocks in this selection, go to the 12 Best Most Active Stocks To Buy Now.
5. NVIDIA Corporation (NASDAQ:NVDA)
Average 3-Month Volume: 52.02 million
Number of Hedge Fund Holders: 89
NVIDIA Corporation (NASDAQ:NVDA) is a Santa Clara, California-based manufacturer of products and solutions in the field of artificial intelligence (AI), autonomous vehicles, high-performance computing (HPC), gaming, and robotics.
On December 19, Rajvindra Gill at Needham increased the price target on NVIDIA Corporation (NASDAQ:NVDA) from $200 to $230 and maintained a Buy rating on the stock. Mr. Gill selected the stock as his top pick for next year and had it included in Needham’s Conviction List. The analyst also noted that the customers of NVIDIA Corporation (NASDAQ:NVDA) are switching towards the more advanced H100 architecture. Experts believe that the company has a bright outlook in the fields of autonomous vehicles and AI and only needs to overcome the short-term uncertainty in demand and inventory correction.
Baron Funds shared its stance on NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2022 investor letter. Here’s what the firm said:
“NVIDIA Corporation (NASDAQ:NVDA) is a fabless semiconductor company and a leader in gaming and accelerated computing. NVIDIA is powering the growth of AI from the data center to the edge. Shares detracted due to inventory right sizing in NVIDIA’s gaming segment coupled with the broader market sell-off in growth stocks. Given NVIDIA’s end-to-end AI platform and its leading market share in gaming, data centers, and autonomous machines, along with the size of these markets, we believe the company can sustain its growth trajectory. See further discussion of NVIDIA in the top net purchases section below.
During the third quarter, we took advantage of its stock sell-off to add to NVIDIA Corporation, a fabless semiconductor mega cap that is a global leader in gaming cards and accelerated computing hardware and software. The sell-off was driven by a near-term inventory correction in gaming as a result of a COVID-related pull forward in demand as well as the shift in the Ethereum cryptocurrency from proof-of-work to proof-of-stake. Additionally, investors are concerned over the potential slowdown in data center revenues as a result of a weaker macroeconomic environment as well as the recently announced limitations on semiconductor shipments to China. Despite the near-term uncertainty, we believe that NVIDIA’s end-to-end AI platform and its leading market share in gaming, data centers, and autonomous machines, along with the size of these markets, would enable the company to benefit from durable growth for years to come and therefore view the stock price where we added shares as a compelling value for long-term investors. With demand for computing power doubling every one to two years, and Moore’s Law slowing down, there is more need for computing than ever. At the same time, “near free” supply growth (that was possible thanks to Moore’s Law) has slowed dramatically. NVIDIA’s accelerated architecture, with parallel computing at scale, answers that need.”
