5 Best Stocks to Buy for a Month

4. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 132

NVIDIA Corporation (NASDAQ:NVDA) shares have already gained about 191% in 2023 through June 28. NVIDIA Corporation (NASDAQ:NVDA) is rising yet again after an engineering consortium called MLCommons revealed that Nvidia’s (NVDA) H100 GPUs set new records. According to MLCommons, NVIDIA Corporation (NASDAQ:NVDA)’s GPUs were the fastest when it comes to training large language models.

Ithaka US Growth Strategy made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its first quarter 2023 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) is the market leader in visual computing through the production of high-performance graphics processing units (GPUs). The company targets four large and growing markets: Gaming, Professional Visualization, Data Center, and Automotive. NVIDIA’s products have the potential to lead and disrupt some of the most exciting areas of computing, including: data center acceleration, artifi cial intelligence, machine learning, and autonomous driving. The stock’s appreciation in the quarter was twofold. First, the stock benefi ted from tremendous excitement surrounding the release of more advanced chatbots, specifi cally ChatGPT, and the likelihood this would necessitate the purchase of a large number of Nvidia’s products far into the future. Second, Nvidia posted a clean beat and raise quarter in mid-February, with investors becoming increasingly convinced the company and its suppliers are adequately working through the build up in channel inventories, which is reducing overall fears of ongoing inventory write-offs.”