Autonomous Car, Smart Home Opportunities Keep This Analyst Bullish On Nvidia

Sometimes there’s just no sense in fighting the market. Even with NVIDIA Corporation NVDA shares up more than 770 percent in the past three years, Tigress Financial Partners analyst Ivan Feinseth reiterated his Buy rating for Nvidia Wednesday and said the stock will continue to ride the wave of its booming cryptocurrency and gaming GPU businesses.

According to Feinseth, the next era of Nvidia will take the company outside of its traditional businesses and into massive, high-growth fields such as artificial intelligence technology, cloud computing, self-driving vehicles and the Internet of Things.

“NVDA’s emphasis on GRID computing will increase GPD data center adoption further creating significant growth opportunities,” Feinseth wrote.

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He sees the auto industry as a particularly large opportunity for Nvidia.

The company launched its auto-targeted NVIDIA DRIVE PX processor just last year, a device which may be pivotal to the industry when it comes to handling the processing loads of autonomous vehicles. While DRIVE PX is capable of processing ambient vehicle information and GPS positioning data in real-time, Nvidia is also offering AI supercomputing chip Xavier to the auto industry as well. Nvidia has development deals in place with Bosch, HERE and ZENRIN and recently made an equity investment in Chinese autonomous driving startup TuSimple as well.

At its core, Feinseth said Nvidia’s ability to help companies process and convert digital and visual data will be the key to its value and future growth. The explosion of crypto currency mining, artificial intelligence, machine learning, and data center processing should keep Nvidia’s growth on track for years to come.