To The Moon

On Nov. 9, just weeks after the US government tightened regulations on exporting high-end AI chips to China, unconfirmed reports said that the chipmaker $NVIDIA Corp(NVDA)$ is set to announce a new series of AI chips for customers in China. The new Nvidia chips are reportedly designed to comply with the latest U.S. government export restrictions. The news cheered investors, because the curbs were seen leading to a possible $5 billion in order cancellations for $NVIDIA Corp(NVDA)$ . The exclusive report suggests that Nvidia has created three customized versions of AI chips for Chinese customers: HGX H20, L20 PCle, and L2 PCle. The official announcement is anticipated on Nov. 16, with insiders revealing that Chinese manufacturers could receive the products in the coming days. As of now, $NVIDIA Corp(NVDA)$ has not provided a response on this matter. Nvidia Stock Technical Analysis Shares of $NVIDIA Corp(NVDA)$ cleared a downward-sloping trendline Nov. 8, offering an early entry around 462.18. Nvidia stock has rebounded in early November along with the rest of the stock market. Nvidia joined IBD Leaderboard after gapping up on earnings in February. It surged from May to August, hitting an all-time high, on AI-fueled earnings and outlook. The relative strength line for Nvidia stock is almost at new highs, a positive sign ahead of a breakout. A rising RS line means that a stock is outperforming the S&P 500. It is the blue line in the chart shown. NVDA earns a best-possible IBD Composite Rating of 99. In other words, Nvidia stock remains in the top 1% of all stocks in terms of technical and fundamental metrics. Investors generally should focus on stocks with Comp Ratings of 90 or even 95 and above. Nvidia stock often earns a spot on the IBD 50, Big Cap 20 and Sector Leaders lists. The IBD Stock Checkup tool shows that NVDA carries a Relative Strength Rating of 99. That means it has outperformed 99% of all other stocks over the past year. The $iShares Semiconductor ETF(SOXX)$ holds both $NVIDIA Corp(NVDA)$ stock and $Advanced Micro Devices(AMD)$ stock. Source:https://www.investors.com/news/nvidia-stock-2023-buy-now/