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NVDA - Nvidia: Outperformance And Valuation Lead Me To Hold Off
NVIDIA Corporation
Nvidia (NVDA) has seen massive outperformance the last few weeks compared to its peers, the Nasdaq (COMP), and other technology stocks I cover. This performance started to concern me when the stock reached toward the $300s - a point where it was only 5.4% off all-time highs. The reward has become minimized, and the risk has maximized.
I realize some catalysts have come to pass, reducing the risk, including the Mellanox (MLNX) deal being approved by Chinese authorities and no pre-announcement in conjunction with scheduling its earnings call. Still, these aren't enough to