"Unstoppable Growth: Why Nvidia Stock Is a Must-Buy for Investors"

1 min read
Source: InvestorPlace
"Unstoppable Growth: Why Nvidia Stock Is a Must-Buy for Investors"
Photo: InvestorPlace
TL;DR Summary

Despite concerns about a potential reversal and overvaluation, Nvidia's stock has seen significant growth due to the demand for AI-compatible chips, with earnings expected to rise by 64.6% in the upcoming fiscal year. While a price correction is possible, the stock's current valuation and strong earnings growth suggest it may have less downside risk compared to its rivals. Investors are advised not to be scared out of their positions if the stock experiences a significant price correction, as it could present a prime opportunity to initiate or add to a position, with the potential for high double-digit gains in 2024 and the possibility of doubling or tripling over a multi-year timeframe.

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