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Nvidia (NVDA) remains as dominant as ever, one longtime bull says.
“No one can compete with Nvidia,” Navellier & Associates founder and chairman Louis Navellier told me on Yahoo Finance’s Opening Bid podcast (see video above or listen below). “They have a monopoly on generative AI chips.”
His firm has about $1 billion in assets under management.
Navellier originally purchased Nvidia’s stock in May 2019 and has been holding on ever since. His bullishness stems in part from the company’s leading chip technology but also from the impressive leadership of founder Jensen Huang.
“You should hold Nvidia until the end of the decade,” Navellier added.
The Street is sticking with Nvidia into its market-moving earnings report after the close of trading on Wednesday, Feb. 26.
Despite China-based DeepSeek rocking the super bullish AI thesis earlier this year, Wall Street still sees Nvidia profiting from the global buildout of AI infrastructure. Aggressive 2025 capital expenditure assumptions by hyperscalers such as Amazon (AMZN) and Meta (META) shared during this earnings season underscore the point.
“Over the coming decades, the investment [in artificial intelligence] is happening,” Russell Investments chief investment officer Kate El-Hillow told me on Opening Bid.
However, that’s not to say there aren’t signs of caution going into Nvidia’s earnings report.
Yahoo Finance data shows Nvidia’s first quarter earnings per share (EPS) trend has drifted modestly lower over the past 30 days. The Street has also not pushed up its 2025 EPS estimates on Nvidia for more than 60 days.
Nvidia is also among the most cheaply valued AI stocks at the moment.
On a forward price-to-earnings (PE) multiple basis, Yahoo Finance data shows Nvidia trading at 29 times forward earnings. Broadcom (AVGO) and Marvell Technology (MRVL) are valued at 35 times and 41 times, respectively. Arm Holdings (ARM) clocks in at 72 times.
But the Nvidia bulls continue to be unshaken.
Listen: What Bill Gates thinks about Nvidia
“We expect another robust performance and “clear beat and raise special” this week from Nvidia that should calm the nerves of investors as Jensen Huang lays out the massive demand drivers from Blackwell and AI Capex in the field fueling this 4th Industrial Revolution,” Wedbush analyst Dan Ives wrote in a client note on Monday.
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