5 Thrilling Stocks to Buy According to Louis Navellier

2. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 106

Navellier & Associates’ Stake Value: $10,290,152

3-year Revenue Growth: 35.19%

On average, NVIDIA Corporation (NASDAQ:NVDA) has grown its annual revenue by 35.19% over the past 3 years. The company reported strong earnings for the fourth quarter of fiscal 2023 on February 22. The company reported an EPS of $0.88 and outperformed EPS estimates by $0.08. The company’s revenue for the quarter amounted to $6.05 billion and beat revenue expectations by $31.61 million. As of March 10, NVIDIA Corporation (NASDAQ:NVDA) has gained 74.89% over the past 6 months.

As of December 31, Navellier & Associates holds a position worth $10.2 million in NVIDIA Corporation (NASDAQ:NVDA) and the investment covers 2.09% of Louis Navellier’s 13F portfolio. NVIDIA Corporation (NASDAQ:NVDA) is one of Louis Navellier’s top high growth stock picks.

At the end of Q4 2022, 106 hedge funds held stakes in NVIDIA Corporation (NASDAQ:NVDA). The total value of these stakes amounted to $6.08 billion, up from $4.29 billion in the preceding quarter with 89 positions. The hedge fund sentiment for the stock is positive.

Here is what ClearBridge Investments had to say about NVIDIA Corporation (NASDAQ:NVDA) in its Q4 2022 investor letter:

“Promoting diversification and managing risk continue to guide our transaction activity, with a focus on the earnings trajectory of existing and potential holdings leading to our most recent moves. We are directing our research efforts to identifying names that are closer to the bottom than the top in terms of earnings and valuations, adding to our positions in ASML, the leading supplier of high-end production equipment to chip makers, and NVIDIA Corporation (NASDAQ:NVDA), whose valuation has washed out due to weakness in gaming and crypto mining as well as slowing enterprise spending.”