NVDA - Is It Too Late to Buy Nvidia Stock in the Second Half of 2024?
2024-07-21 09:41:00 ET
Nvidia 's (NASDAQ: NVDA) stock has dropped 13% over the past month. The company's share price has fallen alongside declines in fellow chip stocks like Advanced Micro Devices , ARM Holdings , Taiwan Semiconductor Manufacturing Company , and ASML Holding NV .
On July 17, these companies' stocks fell victim to reports that the Biden Administration was considering imposing more stringent sanctions on China's access to advanced chips. Then, a massive outage for cybersecurity firm CrowdStrike on July 19 caused mayhem worldwide, crashing countless systems and exasperating the tech market sell-off.
While falling stock prices can be concerning, they can also create attractive investment opportunities. A tumbling share price has boosted the value of Nvidia's shares, with its price-to-earnings (P/E) ratio declining 13% in 30 days. Meanwhile, the company maintains massive potential over the long term as it continues to profit from its dominant role in tech and artificial intelligence (AI).
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Is It Too Late to Buy Nvidia Stock in the Second Half of 2024?