Nvidia remains on the cutting edge for supplying the technology for various artificial intelligence applications.
New applications require the advanced computing capabilities that Nvidia's processors can tackle.
Nvidia is expected to achieve multiple years of above-average growth.
Nvidia (NVDA) gained success largely from its gaming GPU processors. While the gaming GPUs are still successful for the company, Nvidia has a lot of potential growth for numerous artificial intelligence [AI] applications. The AI applications include gaming but also move into many other important areas of the economy.
Nvidia is also producing AI processors for improved language understanding, optimized search engine recommendations, public cloud, and for vertical industries such as logistics, retail, and warehousing. These applications are being used during the COVID-19 crisis. They are likely to be used when we emerge from the crisis. As a result, Nvidia is expected to achieve above-average gains in revenue and earnings over the next three years.
The article is for informational purposes only (not a solicitation to buy or sell stocks). David is not a registered investment adviser. Kirk Spano is an RIA. Investors should do their own research or consult a financial adviser to determine what investments are appropriate for their individual situation. This article expresses my opinions and I cannot guarantee that the information/results will be accurate. Investing in stocks involves risk and could result in losses.
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