For Immediate Release
Chicago, IL – October 03, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include NVIDIA Corporation (NASDAQ:(NVDA - Analyst Report) -Free Report), Honda (NYSE:(HMC - Analyst Report) -Free Report) and Tesla Motors (NASDAQ:(TSLA - Analyst Report) - Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Friday’s Analyst Blog:
Here’s Why NVIDIA (NVDA - Analyst Report) Is One of the Best Tech Stocks
Technology has remained one of the favorite sectors among investors due to its dynamic nature. The field is expected to accelerate faster than ever before. Therefore, if you invest right, you can make a good profit. Tech companies will continue to transform our world with each passing year. So, if you don’t want to be left behind, make sure you’re investing in quality tech stocks.
Below we have evaluated one such tech company that has demonstrated remarkable share price performances so far. The company has raked in high returns for investors till now, and has the potential to keep exceeding expectations in the days ahead.
NVIDIA Corporation (NASDAQ:(NVDA - Analyst Report) - Free Report)
Widely known for its video gaming chips, NVIDIA has pioneered the art and science of visual computing. With a singular focus on this field, the company offers specialized platforms for the gaming, automotive, data center and professional visualization markets. Its products, services and software deliver amazing experiences in virtual reality, artificial intelligence and autonomous cars.
The stock has been clocking solid returns since the beginning of 2016 and has gained over 100% year to date. The robust performance is mainly because of the company’s phenomenal results in back-to-back quarters. This has boosted investor confidence in the stock substantially as many realized that the company is much larger than simply GPUs.
In the second quarter, the company posted earnings of 44 cents, much better than our estimate of 37 cents. This followed another massive beat by the company — 18.9% in the previous quarter — indicating that this stock is on fire.
NVIDIA’s foray into the autonomous vehicles and other automotive electronics space has been driving this stock higher since mid-2015. It should be noted that during the last reported quarterly results, the company witnessed a 68% year over year jump in automotive segment revenues, mainly driven by premium infotainment and digital cockpit features in mainstream cars.
Its plan to unveil new technology for self-driving cars is also encouraging. The evolution of smart cars that can "see" for us, alert us to danger and even brake the car when we're not paying attention is just the beginning of this innovative venture.
Notably, the graphic chip behemoth unveiled a new AI supercomputer chip designed for self-driving cars, called Xavier, at its GPU Technology Conference (GTC) in Amsterdam yesterday. Per the company, the processor is capable of delivering 20 trillion operations per second (TOPS) of performance, while consuming just 20 watts of power.
Apart from this, NVIDIA has entered into a partnership with TomTom – a Dutch mapping and navigation group, to develop AI in order to create a cloud-to-car mapping system for self-driving cars.
The company’s current Drive PX 2 computer chip for self-driving cars is considered to be as powerful as 150 MacBook Pros, and has the capacity to power 12 video camera inputs and sensor fusion. The chip, according to NVIDIA, can run about 24 trillion deep learning operations per second thereby enabling driverless cars to determine the next move in a fraction of a second.
While consumers are already using cameras to stay in a single lane, which has greatly reduced accidents, this is the not the main reason behind the development of this technology. It's in fact the statistics that show a dramatic rise in distracted driving and how some new auto technology like Automatic Emergency Braking (AEB) can prevent tens of thousands of rear-end collisions every year, saving countless lives. NVIDIA is also trying to revolutionize technology to make cars a safer means of getting around.
Notably, the company already provides various technologies such as digital instrument clusters, navigation, advanced driver-assistance systems and infotainment under its partnership agreement with several automakers including Honda (NYSE:(HMC - Analyst Report) -Free Report), Tesla Motors (NASDAQ:(TSLA - Analyst Report) - Free Report), Audi, Volvo, Mercedes-Benz and BMW.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.
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