Buy This Top Tech Stock Before Thursday Night

The projections are looking great for Thursday evening’s earnings report from a well-known graphics card producer. Analysts are calling for 50% forecasted sales growth and a whopping 137% earnings growth. On top of this, the consensus EPS estimate has jumped 46% in the past 90 days. Last quarter, this high flier trounced analysts’ earnings estimates by 46%. Which company am I referring to?

I’m talking about NVIDIA Inc. (NVDA), which will release its fiscal fourth-quarter results after the market closes on Thursday. NVIDIA Corp. is a leading computer graphics company, making graphic processing units (GPUs) for consumers and businesses. From video games to professional visualization, datacenter and automotive applications, NVIDIA’s graphics cards enhance the processing capability of its users’ computers.

The company has been in the computer graphics business for more than two decades—it invented the GPU in 1999—so it is a well-established player. To date, NVIDIA owns 7,300 patents relating to computer graphics, the largest portfolio of its kind.

While NVDA stock got its start as a graphics card company that catered to video game enthusiasts, it turns out that the GPU has a wide range of powerful applications. Graphics cards can be used to aid computers in applications like financial modeling, oil and gas exploration, virtual reality and even in self-driving cars.

My expectation is that this will be a headline-making earnings report, so I consider NVDA an A-rated Strong Buy.


signed: Louis Navellier

Louis Navellier

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