"...sales are fast picking up both year over year and month over month for quite some time now. Moreover, smartphone sales, which had slowed down during the early days of the pandemic as shipments got stuck due to lockdowns, have once again started to bounce back with economies trying to get back on their feet.
Besides, China, one of the biggest markets for chipmakers, has also started rebounding. Microchip demand is likely to get a boost with the 5G boom in Europe and parts of Asia, including China and Singapore. Given this scenario, the semiconductor market is likely to continue growing in 2021.With economies trying to somewhat get back to normal on hopes of the recently approved COVID-19 vaccines, smartphone sales rebounding and the 5G boom, it is likely that semiconductor manufacturers will benefit in the near term.... NVIDIA Corporation (NVDA Quick QuoteNVDA - Research Report) is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Over the years, the company’s focus has evolved from PC graphics to artificial intelligence-based solutions that now support high-performance computing, gaming and virtual reality platforms.
The company’s expected earnings growth rate for the current year is 67.7%. The Zacks Consensus Estimate for current-year earnings has improved 6.4% over the past 60 days. NVIDIA holds a Zacks Rank #2.
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