Nvidia is one of the strongest stocks for 2022

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With the rise of technology, Nvidia(NVDA) has become a driving force in the chip-making industry. They are known for their graphic processing units(GPUs) and system on chip units. The rise of gaming and crypto mining has helped Nvidia grow because the chips that they produce are in high demand in these growing industries. Since esports is becoming more popular among Gen Z individuals, Nvidia will continue to feel its impact by seeing consistent revenue increases. Similarly, the rising popularity of cryptocurrencies such as Bitcoin and Dogecoin has attracted individuals to mine their own bitcoin in hopes of becoming rich. However, mining is an arduous process so it requires a strong GPU, and Nvidia processors have become in high demand for miners.

Although there has been a chip shortage the past year, it hasn't stopped them from beating analysts' EPS predictions every single time for the last three quarters. As the chip shortage comes to an end, there is a strong upside for Nvidia and a stronger argument for the stock to continue to be bullish.

Nvidia has dropped around 30% since its peak in early December and it is currently priced at $237.67. Thirty-nine analysts predict Nvidia will rise to around $350, or 45% in the next 12 months which makes it a very attractive time to jump in right now(CNN Money). 

In addition to making chips, Nvidia has also begun to expand into the AI industry. They have recently acquired a partnership with Jaguar Land Rover on developing AI-powered autonomous vehicles that will run on NVIDIA DRIVE. If this news provides a positive outlook on the company and a bright future for the stock.

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