Forget Nvidia: I Just Doubled Down on Another Unstoppable Artificial Intelligence (AI) Stock. Here's Why
First, let's address the elephant in the room: It's highly unlikely that investors, least of all me, are going to forget Nvidia. The company has forged a path years in the making and has become the gold standard for graphics processing units (GPUs) used to underpin artificial intelligence (AI). In fact, I am as bullish on the company and its future as I have ever been, and I continue to believe the company has a bright future.
So, why would I "forget Nvidia" and double down on another AI stock instead? It comes down to portfolio management. I began accumulating Nvidia shares more than six years ago and continued adding to my position until earlier this year. Nvidia stock has gained 800% since early last year (as of this writing) and more than 3,300% over the past five years.
As a result of the stock's parabolic move, Nvidia is now one of the dominant stocks in my portfolio. It has become a 10-bagger and now represents more than 12% of my total holdings. From here on out, I expect Nvidia to do the heavy lifting, and I don't need to add any more capital to a stock that already represents so much of my portfolio.
Source Fool.com
