3 Reasons to Avoid NVIDIA Stock (For Now)

3 Reasons to Avoid NVIDIA Stock (For Now)

Shares of NVIDIA (NASDAQ: NVDA) recently dipped from their all-time highs after a CNBC report claimed that AMD's (NASDAQ: AMD) partner GlobalFoundries was developing an autonomous driving chip with NVIDIA customer Tesla Motors (NASDAQ: TSLA).

However, GlobalFoundries denied the report, and CNBC corrected its story, stating that CEO Sanjay Jha didn't "specifically say" that Tesla was its customer. Those conflicting reports caused tremendous volatility in NVIDIA and AMD shares, since NVIDIA is a market leader in driverless chips, while AMD has also expressed interest in expanding into automotive chips.

NVIDIA CEO Jensen Huang. Image source: NVIDIA.

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Source: Fool.com