rtmark
LearnBonds.com

Nvidia Stock Is the Best Pick for 2020, Analysts Predict

Nvidia (NASDAQ: NVDA) stock price reversed the majority of losses it had experienced at the end of fiscal 2019. Meanwhile, the market analysts are seeing the significant improvement in demand for the semiconductor industry in 2020. The demand is likely to be driven by gaming, A1, and data center businesses.

The shares bounced to $240 level, down slightly from an all-time high of $290 that it had hit last year. Its share price soared almost 75% in fiscal 2019. The company’s latest financial results are helping in adding to investor’s sentiments. It has topped third-quarter revenue and earnings estimates by a wide margin.

NVDA NVIDIA Corporation weekly Stock Chart

Analysts Raised Nvidia Stock Target

Wells Fargo increased the price target from $240 to $270 and names it the top stock for fiscal 2020. Its analyst Aaron Rakers expects improvement in investor’s sentiments next year amid the rebound in financial numbers.

The analyst says, “NVDA has the most significant investor sentiment upside and stands to benefit from next year’s re-acceleration in data center spending.”

Jefferies has provided a price target of $255 for Nvidia stock with a buy rating. The Analyst Mark Lipacis cites solid numbers for gaming business combined with strength in data center business. The company could also be the biggest beneficiary from AI adoption, Mark Lipacis says.

Morgan Stanley expects Nvidia shares to trade around $260 in the short-term. Morgan Stanley predicts a return to solid growth in 2020.

Financial Numbers are Showing Strength

The company topped third-quarter estimates and its financial numbers increased from the previous quarter. This is an indication of improving demand trends. It reported $3.08 billion in third-quarter revenue, up from $2.58 billion in the previous quarter.

We extended our reach beyond the cloud, to the edge, where GPU-accelerated 5G, AI and IoT will revolutionize the world’s largest industries. We see strong data center growth ahead, driven by the rise of conversational AI and inference, said Jensen Huang, founder, and CEO of NVIDIA.”

Trusted & Regulated Stock & CFD Brokers

What we like

  • 0% Fees on Stocks
  • 5000+ Stocks, ETFs and other Markets
  • Accepts Paypal Deposits

Min Deposit

$200

Charge per Trade

Zero Commission

Rating

64 traders signed up today

Visit Now

75% of investors lose money when trading CFDs.

Available Assets

  • Total Number of Stocks & Shares5000+
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • DAX Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
  • Paypall
  • Skrill
  • Neteller

What we like

  • Sign up today and get $5 free
  • Fractals Available
  • Paypal Available

Min Deposit

$0

Charge per Trade

$1 to $9 PCM

Rating

Visit Now

Investing in financial markets carries risk, you have the potential to lose your total investment.

Available Assets

  • Total Number of Shares999
  • US Stocks
  • German Stocks
  • UK Stocks
  • European Stocks
  • EFTs
  • IPOs
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 $1 - $9 per month
  • NASDAQ $1 - $9 per month
  • DAX $1 - $9 per month
  • Facebook $1 - $9 per month
  • Alphabet $1 - $9 per month
  • Telsa $1 - $9 per month
  • Apple $1 - $9 per month
  • Microsoft $1 - $9 per month

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Avatar

Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.