2024-04-23 20:00:11 ET
Summary
- Nvidia Corporation slumped 10% last Friday without any negative data points, as the market interpreted AI-related data as negative.
- TSMC guided to strong 2024 growth rates of over 20% due to AI demand.
- Super Micro Computer's lack of a guide up for the March quarter does not indicate a sudden drying up of AI demand.
- The stock is fairly valued at 25x FY26 EPS targets, though investors need to ultimately price in margin compression in the future.
The stock market wasn't in a good mood last week and the AI stocks took a beating. Nvidia Corporation ( NVDA ) slumped 10% on Friday and over 200 points from the high from last month without even a negative data point. My investment thesis remains Neutral on Nvidia, as the stock got too stretched on the big rally to $974....
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Nvidia: No Reason For An AI Panic