NVDA - Up 145% So Far This Year Here's What It Will Take for Nvidia Stock to Drop and Why I Think It Could Happen Sooner Rather Than Later
2024-07-21 18:00:00 ET
The technology sector has been one of the best-performing industries so far this year largely thanks to rising euphoria around artificial intelligence (AI). Megacap technology behemoths have been the biggest beneficiary of the AI movement, and one stock in particular is having a bit of a moment right now.
Shares of semiconductor darling Nvidia (NASDAQ: NVDA) are up a whopping 145% so far in 2024 -- making it the top performer of the " Magnificent Seven " by a wide margin.
Considering the AI revolution is very much in its early days, there are many reasons to believe that Nvidia's best days are ahead. However, smart investors understand that stocks don't appreciate in value forever.
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Up 145% So Far This Year, Here's What It Will Take for Nvidia Stock to Drop, and Why I Think It Could Happen Sooner Rather Than Later