TECH - Is Nvidia A Buy After 2023's Stratospheric Rally? Fund Manager Gary Black Thinks It's Still Cheap For 5 Reasons | Benzinga
Shares of Nvidia Corp. (NASDAQ:NVDA) have been on a tear since the beginning of 2023, reflecting investor confidence in the chipmaker’s AI capabilities. Despite this upward trend, a fund manager believes the stock is attractively valued given its growth potential.
What Happened: Nvidia reached a new high on Tuesday, rallying 1.70% during the kickoff of the 2024 Consumer Electronics Show, closing at $531.40, according to Benzinga Pro data. The stock outperformed the Nasdaq 100 Index (up 0.17%) and the iShares Semiconductor ETF (NASDAQ:SOXX), which remained nearly flat.
This rally contributed to Nvidia’s impressive gain of 264% since 2023.
Chart courtesy of Benzinga