2024-06-11 15:00:00 ET
Summary
- There's no question that Nvidia Corporation is firing on all cylinders as it continues to dominate in the AI accelerator sector.
- The bear thesis has not proven fruitful, with competition from Advanced Micro Devices falling short and margins continuing to rise.
- Demand for Nvidia's products is expected to exceed supply well into next year, indicating sustained growth. However, the stock's valuation is now fairly valued.
- Moreover, the technical chart picture shows it has or will top around here, and thus, with these factors in mind, I move to a hold.
Nvidia Corporation's ( NVDA ) recent earnings continued a streak of meaningful beats and raises, while putting to rest many of the market's concerns about ordering pauses and the demand outlook. If there's any company in the entire market running on all cylinders with high-octane fuel, it's Nvidia. Its performance provides the confidence I need to consider the company a long-term winner. After all, it meets my criteria for excellent management, excellent business, and excellent industry trends....
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Nvidia: Great Outlook Remains, But Stock Has Had Enough For Now (Rating Downgrade)