2024-06-12 07:45:00 ET
Summary
- This quarter, we sold the last of our shares in Nvidia, a company we held for more than five years.
- Our initial purchase came at a time when concerns over excess inventory in gaming chips had been weighing on Nvidia’s valuation, which presented an attractive buying opportunity.
- So, why did we sell our investment?
The following segment was excerpted from this fund letter.
Nvidia Corp. ( NVDA )
This quarter, we sold the last of our shares in Nvidia, a company we held for more than five years. Our initial purchase came at a time when concerns over excess inventory in gaming chips had been weighing on Nvidia’s valuation, which presented an attractive buying opportunity. Since then, the stock price has skyrocketed, particularly following the November 2022 launch of OpenAI’s ChatGPT tool, which introduced much of the business world to the practical applications of generative AI and put a spotlight on the key enabling technology—semiconductors....
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For further details see:
Harding Loevner - Nvidia: Why We Sold Our Investment