Louis Navellier’s Top 5 Stock Picks for Q4 2022

3. NVIDIA Corporation (NASDAQ:NVDA)

Navellier & AssociatesStake Value: $10.47 million

Percentage of Navellier & Associates’ 13F Portfolio: 2.38%

Number of Hedge Fund Holders: 89

NVIDIA Corporation (NASDAQ:NVDA) is an American multinational technology company that designs and markets graphics processing units (GPU) for consumers and companies for several different purposes, including gaming and cryptocurrency mining.

Needham analyst Rajvindra Gill raised the firm’s price target on Nvidia to $200 from $155 and kept a Buy rating on the shares on November 17. According to Gill, the company’s Q3 results were “solid” with data center revenue outlook slightly higher despite weakening China data center sales. He believes that Nvidia is executing well despite the headwinds.

89 out of the 920 hedge funds polled by Insider Monkey for this year’s third quarter had bought NVIDIA Corporation (NASDAQ:NVDA)’s shares. NVIDIA Corporation (NASDAQ:NVDA)’s largest shareholder is Ken Fisher’s Fisher Asset Management, which owns 12 million shares worth $1.4 billion.

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