$NVIDIA (NVDA.US)$ climbed $32.03 Thursday on Wells Fargo's upbeat assissment to close at $298.01. The stock also set a new intraday 52-week high of $313.65.
Facebook's rebranded last week as Meta as it looks to build out the virtual universe and further incorporate virtual and augmented reality with social media. It's plans to increase capital spending including data centers, servers and network infrastructure, potentially benefiting NVDA. $Meta Platforms (FB.US)$ is forming a metaverse, which is likely going to require more microchips.
NVIDIA Omniverse is also a key enabler/platform for the development of the Metaverse across a wide range of vertical apps—industrial, manufacturing, design & engineering and autonomous vehicles/robotics.
Nvidia has been the biggest winner in the chips space this year. The stock is up 102% in 2021
The metaverse is not a new concept, but it is one gaining traction with a wider audience.
Do you think the concept is worthy to invest in? What else "Metaverse Stocks" you're keeping eye on?
Source:
Why Nvidia Could Be Helped By Meta Platforms Building The Metaverse
Nvidia Analyst Hikes Price Target By 30% On $10B Opportunity Presented By The Metaverse