Is NVIDIA Worth Investing Now And What Other Options Are Available For Investors Who Seek Exposure In AI? - NVIDIA (NASDAQ:NVDA)

After last week’s blockbuster earnings report by Nvidia NVDA, shares have surged so far in 2023 a whopping 165%, shares traded under $150 just at the beginning of this year. While the returns have been out of this world if you got in during 2022 lows, chances are you’re wondering if it’s worth chasing the price now. Nvidia projects their EPS in 2024 will be more than double, and net profit over three times. No doubt that stock have enjoyed an impressive rally since beginning of this year, but here are my top three picks for long exposure on AI, that could have more room on the upside. 

Advanced Micro Devices

AMD AMD is a leading semiconductor company that designs and manufactures high-performance CPUs and GPUs. They have made significant advancements in AI and machine learning technologies, and their GPUs are widely used for AI applications.

Weekly chart is impressive here and still have some upside to go. AMD reached ATHs in 2021 at $164/share, basically another 22% before breaking that high from Friday’s closing price. 

Intel Corporation

Intel INTC is a well-known name in the semiconductor industry, and they have been expanding their presence in AI. They offer a range of products, including CPUs, GPUs, and specialized AI accelerators like the Intel Nervana Neural Network Processor (NNP).

Intel can’t seem to get any traction or spotlight over the last several months after dropping from highs of $34. Even if you’re a short term trader, Intel have held a decade long support level at $24. Shares did rally on Friday. Worth a watch this coming week.

Taiwan Semiconductor Manufacturing Company

TSMC TSM is the world’s largest dedicated semiconductor foundry. While they don’t develop their own AI chips, they are a critical player in the industry, manufacturing chips for many companies involved in AI, including Nvidia and Apple.

TSM all time highs back in early 2022 was about $144/share. While shares have rallied from $80/share at the lows of this year, this one can be worth watching. It is approaching $107 reistance (prior support in 2021). Watch to see if TSM can break through this level. If it can, could be significant upside ahead. 

Happy Investing!


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