![](https://emeatribune.com/wp-content/uploads/2024/06/this-fidelity-portfolio-manager-says-nvidia-has-a-huge-moat-and-can-keep-rallying-980x653.jpg)
![](https://emeatribune.com/wp-content/uploads/2024/06/this-fidelity-portfolio-manager-says-nvidia-has-a-huge-moat-and-can-keep-rallying-980x653.jpg)
![](https://image.cnbcfm.com/api/v1/image/107376800-17086093372023-03-06t202225z_1660679185_rc2koz9gbplb_rtrmadp_0_nvidia-results.jpeg?v=1708609412&w=1920&h=1080)
Nvidia ‘s stock still has plenty of upside ahead of it even after the chip giant’s market cap crossed $3 trillion , according to a highly rated portfolio manager. Adam Benjamin, a research analyst and portfolio manager at Fidelity Investments, told CNBC on Thursday that the artificial intelligence boom still has plenty of room to grow and that Nvidia remains in a strong position. “This is a company that has been working on AI for 10-plus years. So there’s a huge moat here. This is a technology architecture shift that is ongoing and we think we’re early days here,” Benjamin said on CNBC’s ” Squawk on the Street .” A “moat” is a concept used by Wall Street pros to describe companies that have significant structural and financial advantages that make it hard for competitors to catch up. The strategy of buying stocks with moats is one often touted by Berkshire Hathaway’s Warren Buffett. Nvidia was the top holding in the Fidelity Select Technology Portfolio (FSPTX) as of April 30. Benjamin is the primary manager on the fund, which has a four-star rating from Morningstar. The nearly $15 billion fund has finished in the top half of its category group in four of the past five years, according to Morningstar. Nvidia’s rise has primarily been because its semiconductors are ahead of its competitors and in high demand as their customer companies race to build artificial intelligence programs. Benjamin said the company can continue to succeed even if the demand for chips cools from its current breakneck pace. “I know people like to talk about this as a chip company … but this is really a full infrastructure and compute and services company,” Benjamin said. Shares of Nvidia are up more than 140% in 2024, and it has surged more than 700% since the start of 2023. NVDA 5Y mountain Nvidia’s dramatic rally over the past 18 months has pushed its market cap to $3 trillion. Other top holdings in Benjamin’s Fidelity fund as of April 30 include Microsoft and Apple .
EMEA Tribune is not involved in this news article, it is taken from our partners and or from the News Agencies. Copyright and Credit go to the News Agencies, email news@emeatribune.com Follow our WhatsApp verified Channel