Nvidia's Latest Move Could Make It a Hot Buy for EV Investors, Too
Electric vehicle (EV) stocks have been crashing in the early part of 2024. , Rivian, and Nio have all fallen more than 20% already to start the year. As competition ramps up in the EV market and concerns rise about affordability, investors have been moving away from these stocks.
One stock that could be an underrated EV play is Nvidia (NASDAQ: NVDA). The company is known for being a top artificial intelligence (AI) stock, but the popular chipmaker could also benefit from the EV market's growth. Here's why.
Nvidia has an AI platform, Nvidia Drive, which can be used to help with driver assistance and automated driving.
Source Fool.com
Tesla Inc Stock
€202.35
-0.520%
Our community is currently high on Tesla Inc with 73 Buy predictions and 29 Sell predictions.
With a target price of 245 € there is a positive potential of 21.08% for Tesla Inc compared to the current price of 202.35 €.
