Nvidia (NVDA) makes "the best" AI chips, and there is "no substitute" for its products, veteran investor Kim Forrest told Schwab Network in the wake of NVDA's Q1 earnings results.
Forrest is the founder and Chief Investment Officer of Bokeh Capital Partners.
Forrest Is Full of Praise for NVDA
Nvidia has a firm "hold" on the "very high-end" chip market and on "even the less than high-end" chip sector, the investor reported.
Moreover, "everyone wants (NVDA's) products," and no other firm has managed to develop AI chips that are both cheaper than NVDA and adequate, Forrest stated.
Finally, the veteran investor believes that the demand for NVDA's chips will only increase going forward.
The Recent Price Action of NVDA Stock
In the last month, the shares have climbed 27%, while they have gained 18% in the last three months.
While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about this cheapest AI stock.
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