2 Reasons to Buy Nvidia Stock Before Aug. 28
Artificial intelligence (AI) is the single biggest leap in technology since the internet -- or so say its biggest believers. Its effect on the market has been enormous. Led by the poster child of the AI revolution, Nvidia (NASDAQ: NVDA), AI stocks went on a tear over the last few years that made a lot of people a lot of money.
The last month or so hasn't been so kind; the Nasdaq Composite is down more than 10% since its peak in early July. The majority of big tech players released their earnings for Q2 2024, and although there was a lot of positive news -- Meta Platforms posted 22% year-over-year revenue growth for the quarter -- investors were somewhat spooked by the larger-than-expected spends the companies are planning to make on AI infrastructure.
This, in combination with broader market fears -- here's hoping the Federal Reserve can nail that "soft landing" -- hit Nvidia hard. Its stock is down over 22% since July 10. But you know what? I think this is great news. It's a buying opportunity for those who still believe in the stock, and I do. With the company set to release its Q2 numbers on Aug. 28, here are two reasons to buy before it does.
Source Fool.com
Meta Platforms Inc. Stock
We see a rather positive sentiment for Meta Platforms Inc. with 8 Buy predictions and 2 Sell predictions.
As a result the target price of 500 € shows a slightly positive potential of 4.52% compared to the current price of 478.4 € for Meta Platforms Inc..
