Larry Ramer
1 min read
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"I don't know how you bet against Nvidia Corporation (NVDA) CEO Jensen Huang and Nvidia's technology," David Wagner told Schwab Network recently.
Moreover, the chip maker is poised to benefit from its overseas growth, according to Wagner, and it could get a lift from the economy's weakness, the investor suggested.
Wagner is the Head of Equities at Aptus Capital Advisors.
Nvidia Corporation (NVDA)'s recently announced Middle Eastern deals show that the company's international growth can make it "resilient" to America's problems, the investor suggested.
"International growth is one of the core tenets of Nvidia's valuation," he said.
Meanwhile, amid macro pressures, "AI is an idiosyncratic area of growth," Wagner believes. Consequently, he is hoping that Nvidia Corporation (NVDA) stock obtains a scarcity growth premium."
In other words, he believes that, since AI is one of the few growth areas within the economy and NVDA is integral to AI, NVDA stock could start to attract many more investors going forward.
While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
