Place Nvidia Stock at the Top of Your Watchlist
After getting knocked significantly lower during 2022, shares in Nvidia $NVIDIA(NVDA.US$ have made a stunning comeback so far in 2023. Year-to-date, NVDA stock is up by around 78.5%, driven by the recent wave of “A.I. mania.”
With Nvidia supplying the GPUs used to power OpenAI’s ChatGPT platform, investors are on the money for buying NVDA to play this trend.
That said, when skeptics say that recent “A.I. mania” is little more than “A.I. hype,” and thus unsustainable, they may be right to some extent. The market may be overdoing it right now with A.I. stocks.
That doesn’t mean you need to take a hard pass on NVDA. Let’s dive in, and see why now may be the time to add this stock to your watchlist.
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