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Why Nvidia Stock Rebounded Today

TheMotleyFool

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Nvidia's (NASDAQ: NVDA) share price rallied 4.9% on Tuesday after Swiss investment bank UBS named the chipmaker one of its top stock picks for the year ahead.

UBS analyst Timothy Arcuri believes Nvidia is building a wide competitive moat around its business. The semiconductor titan has established itself as a powerful force in the rapidly expanding graphics processing unit (GPU) market. Soaring demand in areas such as gaming and data centers is fueling Nvidia's growth, which UBS expects to continue for the foreseeable future.

After a steep decline from its highs in November, Nvidia's stock price recovered some of its recent losses on Tuesday. Image source: Getty Images.

Source Fool.com

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