Nvidia (NVDA) had a momentous 2023, thanks to its AI chips and well over 200% gain in its stock price. But with potential economic headwinds, increased competition, and regulations on what it can ship to China, can that success carry into 2024?
Stifel Applied Technology Analyst Ruben Roy thins it can. He joins Yahoo Finance to discuss why he believes Nvidia is a good idea for any investor’s portfolio.
Roy explains why Nvidia is so dominant in the sector: “Nvidia came up with a software stack, CUDA, that is the ecosystem of AI right now. If you look at Apple (AAPL) and iOS, the way we’re thinking about it is, if you can win the developer, you’re gonna win the hardware…So I think thats the next stage of Nvidia story for this year is going to be.”
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NVDA will make you rich, BUY IT!