NVIDIA Corporation is the top choice for hedge funds due to impressive growth

From Yahoo Finance: 2024-05-29 10:05:59

We looked at the 10 Best Fast Growth Stocks To Buy according to hedge funds, focusing on NVIDIA Corporation (NASDAQ:NVDA) as the top choice. NVIDIA has seen soaring triple digit share, revenue, and profit growth over the past year with $26 billion in Q1 2024 revenue. 186 hedge funds own shares, with the largest stake held by GQG Partners at $12 billion. NVDA is now a $2.8 trillion company, trading at a forward PE of 41, with high growth expectations. Market assumes $70 billion earnings next year, $100 billion in 2 years, and $150 billion in 3 years, growing at high single digits in the long term. Probability of this happening is less than 50%, requiring NVDA to defend its moat for decades.



Read more at Yahoo Finance: Is NVIDIA Corporation (NASDAQ:NVDA) The Best High Growth Stock To Buy According to Hedge Funds?