What's Next For Nvidia As Stock Enters Correction Zone? Munster Singles Out Crucial Question Market Has About AI Ahead Of Inflation Data
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp. (NASDAQ:NVDA) has entered a correction phase, experiencing an 11.22% pullback from its recent high. Gene Munster from Deepwater Asset Management highlighted the market's anticipation of Nvidia's potential in AI, despite not purchasing shares at the moment. Munster believes AI's transformative power will support Nvidia's growth over the next few years, even as the stock faces short-term volatility around earnings reports and inflation data.
April 10, 2024 | 9:33 am
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Nvidia has seen a significant pullback but is anticipated to grow due to its lead in AI technology. Gene Munster's comments suggest a positive outlook despite short-term volatility.
Nvidia's correction phase is seen as a temporary setback. Munster's insights into Nvidia's AI capabilities and the transformative potential of AI indicate a bullish outlook for Nvidia's long-term growth, despite potential short-term headwinds from inflation data and earnings reports.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100