AI goliath NVDA is arguably the most influential stock on US and Global bourses as we head through 2024. After a sharp ~16% pullback in late June, the $US3.33 trillion giant is gathering steam as it heads back towards new highs—as we’ve said previously, this is definitely a stock we would put in the “buy the dip” basket. While NVDA looks good, tech stocks and the S&P500 are likely to remain strong as it extends its advance into blue sky territory.
- As NVDA pulled back, we wrote here that accumulating NVDA ~$105 makes sense, and leaving room to add to a position should it fall into the ‘cheap’ zone nearer $US90. Unfortunately, the stock only pulled back to $US118.
MM is bullish towards Nvidia
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