Is Nvidia Stock a Buy Now?
Nvidia (NASDAQ: NVDA) stock has rallied hard in 2023 on the back of a turnaround in the company's fortunes. It's up 180% so far, driven mainly by the huge demand for its graphics cards, which are being used for training artificial intelligence (AI) models.
At one point this year share prices of Nvidia had more than tripled in value, but they are in pullback mode of late. The stock is down 11% in the past month, even though there has been no company-specific development that should have impacted its rally negatively. It looks like Morgan Stanley's thesis that the high-flying run in AI stocks is nearing an end and the "bubble" is likely to burst has led investors to press the sell button of late.
Is this latest pullback an opportunity for investors to buy Nvidia stock, especially considering the potential acceleration in the company's growth and the long-term prospects of the AI market? Let's find out.
Source Fool.com
