While Bitcoin and various altcoins enjoyed a record-breaking 2017, chipmakers like Nvidia also benefited from the crypto boom.
The graphics card manufacturer was the top performer on the S&P 500 in the chip manufacturer category, Overall, Nvidia’s share price saw a 100% rise in 2017 — and Goldman Sachs believes that growth will bubble continue into 2018.
As reported by CNBC, Goldman Sachs analyst Toshiya Hari told clients that they could expect chipmakers to have another bumper year on the stock market.
“Nvidia is one of the few stocks in our coverage universe exposed to multiple secular growth markets. With the emergence of eSports and the potential proliferation of VR/AR, we view Gaming as a meaningful and sustainable growth driver for the overall company. In terms of single stock, our top picks in Semis and Semi Cap are Nvidia and Entegris.”
Growth in the gaming sector is expected to drive up the company’s share price by 7%, according to Hari. A big factor in this projected growth was the recent launch of Nvidia’s new Volta-powered Titan V graphics card in December 2017.
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