Nvidia: Recent Pullback Presents A Prime Buying Opportunity

Summary:

  • My previous thesis about Nvidia Corporation has aged well, as the stock has appreciated by 27% since May 2, far outperforming the S&P 500.
  • Nvidia continues to deliver remarkable growth in its key financial metrics, which enables the accumulation of resources to further accelerate innovation.
  • My analysis indicates that Nvidia is still slightly undervalued, which means that the valuation is compelling for such an AI superstar.

Moscow, Russia - April 7, 2019: NVIDIA video chip on the motherboard

Antonio Bordunovi

Introduction

I shared a thesis about NVIDIA Corporation (NASDAQ:NASDAQ:NVDA) in early May 2024 with a “Strong Buy” rating. It appears that my optimism was justified because the stock has appreciated by 28% since May 2, while the S&P 500 (


Analyst’s Disclosure: I/we have a beneficial long position in the shares of NVDA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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