雅虎香港財經 Here’s Why NVIDIA Corporation (NVDA) Surged in Q1
Harding Loevner, an asset management company, released its “Global Equity Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the strategy returned 6.25% net of fees compared to a 7.44% return for the MSCI All Country World Index and 7.88% for the MSCI World Index. Exposure to the banking sector detracted the relative and absolute performance of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Harding Loevner Global Equity Strategy highlighted stocks like NVIDIA Corporation (NASDAQ:NVDA) in the first quarter 2023 investor letter. Headquartered in Santa Clara, California, NVIDIA Corporation (NASDAQ:NVDA) provides computer graphics processors, chipsets, and related multimedia software. On June 6, 2023, NVIDIA Corporation (NASDAQ:NVDA) stock closed at $386.54 per share. One-month return of NVIDIA Corporation (NASDAQ:NVDA) was 33.81%, and its shares gained 107.26% of their value over the last 52 weeks. NVIDIA Corporation (NASDAQ:NVDA) has a market capitalization of $954.754 billion.
Harding Loevner Global Equity Strategy made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2023 investor letter:
"It also signaled lower capital expenditures and increased share repurchases. Other tech companies, including Salesforce, similarly benefited from plans to lower costs and increase profitability. Meanwhile, NVIDIA Corporation (NASDAQ:NVDA), the graphic-chips designer, surged amid investor enthusiasm over the potential commercial applications of artificial-intelligence technologies, such as ChatGPT, which requires the use of many chips."
Photo by Javier Esteban on Unsplash
NVIDIA Corporation (NASDAQ:NVDA) is in 17th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 132 hedge fund portfolios held NVIDIA Corporation (NASDAQ:NVDA) at the end of first quarter 2023 which was 106 in the previous quarter.
We discussed NVIDIA Corporation (NASDAQ:NVDA) in another article and shared the list of high-quality S&P 500 stocks billionaires are loading up on. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
