Reddit Stock Portfolio: 5 Most Popular Tech Stocks To Consider

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1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 83   

NVIDIA Corporation (NASDAQ:NVDA) has witnessed increased hedge fund activity since supply chain issues created a chip shortage and led to a dramatic increase in prices. At the end of the third quarter of 2021, 83 hedge funds in the database of Insider Monkey held stakes worth $10 billion in NVIDIA Corporation (NASDAQ:NVDA), compared to 86 the preceding quarter worth $9 billion.

Even as analysts predict that chip shortages will last well into 2022, there are several other reasons to invest in NVIDIA Corporation (NASDAQ:NVDA) as well. The company is expanding the suite of products it presently offers in the metaverse and artificial intelligence domains, two high-growth sectors that are expected to witness over $1 trillion in investment over the next few years. 

In its Q1 2021 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and NVIDIA Corporation (NASDAQ:NVDA) was one of them. Here is what the fund said:

“NVIDIA Corp. is the dominant supplier of Graphics Processing Units (GPUs) worldwide. NVIDIA’s GPUs are at the intersection of a number of important computing trends including the movement to the Cloud, artificial intelligence, autonomous vehicles, edge computing, gaming, and more. We previously owned NVIDIA and sold it in the third quarter of 2020 as the price to value gap closed and our margin of safety was reduced. As with all our MVP companies, we continued to follow NVIDIA closely. Since that time, NVIDIA reported excellent results and its value has compounded rapidly. The technology selloff at the beginning of the year negatively affected the stock price while our estimate of NVIDIA’s value per share increased. This happy combination of events created a margin of safety and an opportunity to once again add NVIDIA to the portfolio.”

You can also take a peek at 10 Best Healthcare Dividend Stocks to Buy Now and 10 Dividend Stocks with Over 20 Years of Dividend Increases.

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