Nvidia Stock Is Down 15% From Its High. Time to Buy the Dip?
Few stocks can compare with Nvidia's (NASDAQ: NVDA) incredible 190% rise this year. However, the stock has experienced some weakness over the past month and is down about 15% from its all-time high. With how impressive the stock has been, some might see this as a buying opportunity. However, the stock also has extremely high expectations built into it, so this could be a well-deserved cooling-off period.
So, is this a buying opportunity or the start of a larger downward movement? Let's find out.
Nvidia's astounding run in 2023 is mostly coupled with the rise of artificial intelligence (AI). The company's primary products are GPUs, or graphics processing units. This hardware is utilized in systems where heavy computations are required, whether that is gaming graphics, engineering simulations, or processing data for an AI model.
Source Fool.com
