Is Nvidia The Best Nasdaq 100 Stock?

Summary

• 100% technical buy signals.
• 7 new highs and up 21.68% in the last month.
• 137.19% gain in the last year.

The Barchart Chart of the Day belongs to the semiconductor company Nvidia (NASDAQ: NVDA).  I found the stock by sorting the NASDAQ 100 Index stocks first by the highest Weighted Alpha, then by the highest Barchart buy signal then used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Spotter signaled a buy on 10/25 the stock gained 38.68%.

NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, Graphics and Compute & Networking. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise design; GRID software for cloud-based visual and virtual computing; and automotive platforms for infotainment systems. The Compute & Networking segment offers Data Center platforms and systems for AI, HPC, and accelerated computing; Mellanox networking and interconnect solutions; automotive AI Cockpit, autonomous driving development agreements, and autonomous vehicle solutions; and Jetson for robotics and other embedded platforms. The company's products are used in gaming, professional visualization, datacenter, and automotive markets. NVIDIA Corporation sells its products to original equipment manufacturers, original device manufacturers, system builders, add-in board manufacturers, retailers/distributors, Internet, and cloud service providers, automotive manufacturers and tier-1 automotive suppliers, mapping companies, start-ups, and other ecosystem participants. NVIDIA has partnership with Google Cloud to create AI-on-5G Lab. NVIDIA Corporation was founded in 1993 and is headquartered in Santa Clara, California.

Barchart technical indicators:

• 100% technical buy signals
• 164.93+ Weighted Alpha
• 137.19% gain in the last year
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 7 new highs and up 21.68% in the last month
• Relative Strength Index 61.12%
• Technical support level at 307.80
• Recently traded at 321.26 with a 50 day moving average of 258.84

Fundamental factors:

• Market Cap $785 billion
• P/E 98.20
• Dividend yield .05%
• Revenue expected to grow 60.00% this year and another 18.90% next year
• Earnings estimated to increase 73.60% this year an additional 19.80% next year and continue to compound at an annual rate of 39.37% for the next 5 years
• Wall Street analysts issued 27 strong buy, 8 buy, 5 hold and 2 under perform recommendations on the stock
• The individual investors following the stock on Motley Fool voted 7,297 to 286 that the stock will beat the market with the more experienced investors voting 2,579 to 13 for the same result
• 424,390 investors are monitoring the stock 0on Seeking Alpha