Nvidia (NVDA) is one of the top tech stocks to buy for New Year 2024. 

Helping, earnings should remain solid with NVDA a leader in everything tech-related, such as artificial intelligence (AI) and machine learning. Most recently, it announced adjusted EPS of $2.70, which came in above expectations for $2.08. Revenue jumped 101% year over year to $13.5 billion, which was also above expectations for $11.2 billion. 

For the current quarter, the company expects to see revenue of about $16 billion, which is also ahead of expectations. NVDA also announced plans to buy back $25 billion in stock. Even better, Goldman Sachs just added Nvidia to its conviction buy list thanks to the AI gold rush. 

Headlines are leading traders to the slaughter. If you want the tools to outsmart the herd and fund your financial goals, click here.

Remember, the AI market – currently valued at about $100 billion – could grow twenty-fold by 2030 to more than $2 trillion, as noted by Next Move Strategy Consulting. Even better, generative AI could add between $2.6 trillion and $4.4 trillion a year to the global economy. That’s according to a new McKinsey report, which also said it could have a significant impact across all industry sectors. 

Sincerely,

Ian Cooper