Billionaire Steve Cohen’s Top 15 Stock Picks

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1. NVIDIA Corporation (NASDAQ:NVDA

Number of Hedge Fund Holders: 193 

Point72 Asset Management’s Stake: $448 million  

NVIDIA Corporation (NASDAQ:NVDA) provides graphics, computing and networking solutions. As per the report of the third quarter of 2024, GAAP earnings per diluted share was $4.93, up 33% from the previous quarter and up 765% from a year ago, and non-GAAP earnings per diluted share was $5.16, up 28% from the previous quarter and up 486% from a year ago. These higher earnings per share (EPS) reflect the company’s improved profitability per share, directly benefiting shareholders and potentially leading to higher dividends or share buybacks in the future. Secondly, NVIDIA released NIM microservices to safeguard applications for agentic AI – NVIDIA NeMo Guardrails includes new NVIDIA NIM microservices to enhance accuracy, security and control for enterprises building AI across industries. This initiative expands the market share of the company and reinforces its reputation as an innovator in the AI industry. Moreover, the company also plans to launch its first consumer CPU-GPU platform in 2025, integrating its AI and graphics expertise to offer a comprehensive computing solution. This initiative may hold potential for investors as it aims to challenge existing market leaders by providing high-performance alternatives for consumer PCs.

While we acknowledge the potential of NVIDIA Corporation (NASDAQ:NVDA) as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a stock that is more promising than NVIDIA Corporation (NASDAQ:NVDA) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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