Down 15%, Is Nvidia Stock a Buy Now?

There's no question that Nvidia (NASDAQ: NVDA) has been the leader of the artificial intelligence (AI) revolution thus far. The stock jumped by nearly 10 times since the start of 2023, shortly after the launch of ChatGPT.It rose to become the most valuable company in the world this year, though it has since ceded that position to Apple. Nvidia's strength was on display in its latest earnings report as the company delivered another round of blowout results. Revenue jumped 94% to $35.1 billion, and adjusted net income doubled to $20 billion, or $0.81 a share.Nvidia shares peaked after that third-quarter earnings report on Nov. 21 at a share price of $152.89. However, something surprising happened shortly after that. Nvidia stock started to slide even as the broad market continued to gain as investors seemed to believe that the valuation had again become too inflated. As of Dec. 17, less than a month later, the stock is now down 15% from that peak after falling for four straight sessions in a row.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool