What Makes NVIDIA Corporation (NVDA) an Attractive Investment?

Investment management company Ave Maria recently released its “Ave Maria Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the third quarter, the fund returned -5.80% compared to a -4.88% return for the S&P 500 Index. You can check the top 5 holdings of the fund to know its best picks in 2022.

Ave Maria highlighted stocks like NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2022 investor letter. Headquartered in Santa Clara, California, NVIDIA Corporation (NASDAQ:NVDA) is a global graphics, and compute and networking solutions provider. On January 4, 2023, NVIDIA Corporation (NASDAQ:NVDA) stock closed at $147.49 per share. One-month return of NVIDIA Corporation (NASDAQ:NVDA) was -14.10%, and its shares lost 47.66% of their value over the last 52 weeks. NVIDIA Corporation (NASDAQ:NVDA) has a market capitalization of $367.545 billion.

Ave Maria made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2022 investor letter:

NVIDIA Corporation (NASDAQ:NVDA) Corporation primarily designs and sells the accelerated computer hardware and software that is indispensable for autonomous vehicle, gaming, and artificial intelligence applications. Near term uncertainty from the crypto market correction and the semiconductor cycle have weighed on shares and offered an attractive entry point for long-term investors.”

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NVIDIA Corporation (NASDAQ:NVDA) is in 28th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 89 hedge fund portfolios held NVIDIA Corporation (NASDAQ:NVDA) at the end of the third quarter, which was 84 in the previous quarter.

We discussed NVIDIA Corporation (NASDAQ:NVDA) in another article and shared the most valuable silicon valley companies in the world. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.