Previously, I downgraded Nvidia Corporation stock to “Hold” due to stretched valuation, but after a 22% price drop and strong Q2 earnings, I upgrade it to “Buy” again. Despite high volatility and competition, Nvidia's AI-driven growth, with a 122% YoY revenue growth, solidifies its position as the top AI player. Nvidia's aggressive product cycle and strong CAPEX spending by major tech companies...
With more Nvidia earnings growth ahead, Citi says the company should still help the S&P 500's performance, though potentially not to the same extent as before.
Nvidia Corporation's stock is positioned for mid-teens returns due to strong AI chip demand, reasonable valuation, and robust earnings growth. Recent price drop offers a buying opportunity; Nvidia's P/E ratio is now in line with Big Tech peers but with higher growth prospects. Blackwell chips, launching Q4, promise significant performance gains, driving strong demand from Big Tech aiming for AI...
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