For those who are just beginning to invest, building a portfolio can seem like a daunting task. However, one strategy that has proven successful for many beginner investors is to focus on stocks that are projected to outperform the market in the coming year. Nvidia (NVDA) is one such stock worth considering.
Nvidia is a leading company in visual computing technologies and GPUs, with a strong track record of innovation and success. In recent years, the company has shifted its focus from PC graphics to offering AI-based solutions that support HPC, gaming, and VR platforms. This diversification has allowed Nvidia to capitalize on emerging trends in technology and maintain its competitive edge.
Since being added to the Zacks Focus List in May 2019 at $39.13 per share, NVDA’s stock price has skyrocketed, trading now at $942.89. Analysts have also revised their earnings estimates upwards for the company, with the Zacks Consensus Estimate increasing as well. NVDA boasts an impressive average earnings surprise of 20.2%, making it a potentially profitable investment opportunity for those looking for strong returns on their investment dollars.
Furthermore, investing in a Focus List stock like Nvidia could be an excellent way for beginners to benefit from future earnings estimate revisions that could drive price momentum. For more information on Zacks Investment Research’s latest recommendations for top stocks that could see significant growth in the next 30 days, be sure to download their report today: The 7 Best Stocks for the Next 30 Days
