Got $500? 2 Top Growth Stocks to Buy Now.
There's a lot you can do for $500: go shopping, get away to somewhere special, or simply pay some bills. But if you want that money to potentially grow into much more, look no further than the stock market. Let's explore why Nvidia (NASDAQ: NVDA) and Luckin Coffee (OTC: LKNC.Y) could make excellent long-term choices.
Founded in 1993, Nvidia has since risen to become a leader in graphics processing units (GPUs), a type of computer chip crucial for 3D renderings and other demanding programs. The company's unassailable economic moat and potential in the burgeoning artificial intelligence (AI) industry help justify its premium price tag.
It's no secret that semiconductors and other advanced computer hardware are becoming an increasingly strategic commodity because of their usefulness and the complexity involved in designing and manufacturing them. While Nvidia's graphics processors are mainly used for video gaming and data centers, the emergence of ChatGPT and other advanced AI platforms could unlock an entirely new growth driver.
Source Fool.com
