Moving into Christmas and after its +3.5% rally overnight, we thought it apt to revisit the AI sensation of recent years’ chip maker Nvidia, the “picks and shovels” start of this next industrial revolution. The $US3.4 trillion AI behemoth hit fresh all-time highs in late November before retracing 6.5%. We expect NVDA to keep delivering through 2025, but with expectations so high, further retracements and buying opportunities are likely.
- We see further upside by NVDA through 2025 but pullbacks wouldn’t surprise along its journey – MM has NVDA US on its Hitlist in its International Equities Portfolio.
MM remains bullish NVDA
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