Got $5,000? Buy the Dip on This Mega-Tech Stock While It's Down 39%
Technology stocks have finally caught a break recently after having been hammered by investors since the start of 2022. Although the Nasdaq Composite remains down 18.3% year to date, the tech barometer has gained 11.4% over the past month in light of better-than-expected inflation data for the month of July.
Still, many of big tech's finest businesses, such as Nvidia Corporation (NASDAQ: NVDA), remain notably in the red. The chipmaker's stock has plummeted 39% since the beginning of the year, which should catch the attention of long-term tech investors. With that in mind, is now the right time to pounce on the tech giant's stock? Let's examine its current situation to discover why or why not.
Image source: Getty Images.
Source Fool.com
