Nvidia Could Still Be the Most Slept-on Stock
Nvidia (NVDA) is a hot stock still months after it made headlines for skyrocketing, and we expect it will continue to gain.
AI chipmaker Nvidia (NVDA) is still climbing today, up 0.33% to a price of $132.32 per share. It is a favorite stock of tech investors but could be overlooked by some.
Nvidia has had an incredible year, with great quarterly reports and a strong stock performance that has rarely deviated from its upward incline. We saw the stock jump after each quarterly report this year without major price corrections afterwards. That is the sign of a stable, healthy, and bullish stock.
Nvidia has made headline after headline for its rapid rise this year and last, so why would we say that it is overlooked? The overall strong performance of this AI-focused company has left many investors wary of buying in. They may assume that the stock will finally lose steam any day now, but that has not happened.
Anyone expecting Nvidia to flatter at this point simply has not been paying attention. They are a very public company with public leadership that is at the forefront of one of the hottest development and manufacturing markets around. Their processors and chips are in high demand and will likely continue to be so.
What We Expect Nvidia Stock to Do
Our expectation is that NVDA will continue to climb. It may not skyrocket except when there is a major announcement or a quarterly earnings report, but we expect continued, strong upward movement from this stock throughout the remainder of the year. For now, we can see no reason why the stock would slow down. It is this year’s darling tech stock.
The constant upward movement can scare some investors off who do not think that Nvidia has much more life left in it. We think it deserves a look from any investor for its strong performance all throughout 2024, even when the market was not doing so hot. 2024 has been a continuation of a very healthy performance during 2023, and this is a stock that has proven itself and will likely continue to prove it is a bullish asset that every investor should consider.
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