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Is it too late to invest in Nvidia stock? Expert insights

Is it too late to invest in Nvidia stock? Expert insights

Throughout 2023 and the first quarter of 2024, artificial intelligence (AI) has been at the very forefront of the stock market, and Nvidia (NASDAQ: NVDA) has, throughout the previous 18-odd months, been the lead rider in the wedge.

After achieving an incredible climb from about $110 in October 2022 to as high as $950 in March 2024, many investors are left wondering if the semiconductor train – or, perhaps more fittingly, the chipmaking rocket – has left the station or if there is still a significant upside ahead after retracing back below the $900 psychological level.

As is frequently the case, the story is somewhat complicated as Nvidia stands in a position where few see a plausible cause for a crash, and yet the danger of a selloff appears closer than ever thanks to the sky-high price.

Nvidia likely to continue surging

Certain experts, like Bob O’Donnell, TECHnalysis Research President and Chief Analyst, admit that Nvidia is unlikely to keep its 90% market share, but do not see it putting a dent in the uptrend given the entire sector is expanding.

Wall Street analysts are also still generally bullish on Nvidia. Hans Mosesmann of Rosenblatt, for example, sees the blue-chip chipmaker climbing to $1,400 meaning that even investors buying at the press time prices just under $900 could see their investments grow 60%.

The optimistic forecasts are largely based on Nvidia’s latest strong earnings report and a similarly strong outlook for the coming months.

The fear of holding the bag

Still, the other side of Nvidia’s recent successes is that such an incredible and rapid rise frequently precipitates a fall and few want to see themselves holding the bag. This, in turn only further increases the danger of significant selling pressure affecting the semiconductor giant.

This sentiment is evident in the fact that multiple major funds have been cutting their stake in Nvidia since late 2023 with arguably the most notable example coming in the form of Cathie Wood’s Ark Invest which offloaded more than 1.1 million shares between 2022 and the very end of 2023.

Nvidia stock price chart

While it is difficult to tell if and how much Nvidia will continue roaring in the stock market, its past performance is nothing short of stunning. The last 52 weeks saw NVDA rise 215.40% and year-to-date (YTD), the stock is up 81.63%.

NVDA stock YTD price chart. Source: Finbold

The more recent performance, however, indicates that if the bullish analysts are correct, investors who missed the rally so far might have a value-buying opportunity at hand.

Being 0.62% in the red on the monthly chart, NVDA is priced almost exactly the same as 30 days ago. Nvidia shares current trend, however, makes the job of picking the right moment very difficult for any trader with a desire to min-max.

The last full week of trading saw Nvidia’s stock decline 1.52% and the market’s open on Monday, April 8, saw a decline of 0.91% within the first hour. Nvidia stock price today stands at $874.88, notably below the yearly highs above $912.

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