Nvidia Emerges as Wall Street's Preferred Semiconductor Stock Since the ChatGPT artificial intelligence tool took the world by storm, Nvidia Corp. has emerged as Wall Street's preferred semiconductor Stock. In the wake of the tech giant's success, Barclays has released advice for semiconductor investors, while the tech-heavy Nasdaq has extended its gains with Stock such as Nvidia, Salesforce, and Apple leading the way. Analysts are becoming more positive on semiconductors, as artificial intelligence trends could boost the sector. Graphics card maker Nvidia can also hope for a new revenue stream with the trendy AI tool.
investors are beginning to see the potential in Nvidia Corp. as a semiconductor Stock. In the weeks since the ChatGPT artificial intelligence tool took the world by storm, Nvidia Corp. has emerged as Wall Street's preferred semiconductor Stock, with the Stock trading higher than its previous record of $631.90. The semiconductor giant has seen its Stock surge 39.5% year-to-date in 2023, as investors feel that inflation has peaked and the economy is recovering.
Barclays has some advice for semiconductor investors today - but investors may want to do the opposite. Barclays analysts said that with the overall semiconductor market expected to grow by just 1-2% in the near term, investors should focus on Stock that are likely to benefit from the AI-driven trend. Barclays analysts recommend avoiding Qualcomm (NASDAQ:QCOM), AMD (NASDAQ:AMD), and Nvidia (NASDAQ:NVDA), even though the three Stock have been outperforming the market and the semiconductor sector in particular.