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Nvidia’s Dip Buying Guide: 3 Reasons to Scoop Up NVDA Stock on Any Weakness

Nvidia's shares may be entering sell-off territory, but investors are better off buying the dip on NVDA stock.

Nvidia’s Dip Buying Guide: 3 Reasons to Scoop Up NVDA Stock on Any Weakness

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The acclaimed chipmaker’s share price dropped more than 5%, causing investors to wonder if this is the end of Nvidia’s jaw-breaking rally. Last year, the company’s share returned a staggering gain of 240% last year, and Nvidia’s Q4 earnings report beat Wall Street’s expectations. Currently, the shares of NVDA stock have risen nearly 60% on a year-to-date basis.</p><p>Despite predictions of a sustained Nvidia sell-off in the coming days, I believe investors should not only hold on to their shares but add more to their portfolio once the stock dips.</p><p>Below are three reasons to buy the dip on NVDA shares.</p><h2 id=\"id_3970117277\">Artificial Intelligence solutions remain in high demand</h2><p>Nvidia dominates in both gaming GPUs and AI chips. In fact, the chipmaker dominates about 81% of the market for AI chips used in personal computers and data centers. Moreover, Nvidia’s TensorRT software enables fast and efficient inference of AI models on edge devices. The chipmaker has effectively tackled and consolidated this new market in an unprecedented manner, and the only chipmaker likely to begin to rival it in the near future will be <strong>Advanced Micro Devices</strong> (NASDAQ:<strong>AMD</strong>), which plans to sell billions worth of AI chips in 2024.</p><p>Even when AMD begins selling AI chips, NVDA will keep its stronghold on the AI market for the foreseeable future, until its competitor ramps up significant sells.</p><h2 id=\"id_3593825314\">Wall Street continues to be happy with NVDA</h2><p>Wall Street analysts are excited about Nvidia’s prospects. The company has an overwhelming “Strong Buy” rating from analysts. Out of the 55 analysts covering Nvidia, 50 rate the stock as a “Buy” or “Strong Buy,” while 5 analysts have maintained a “Hold” rating.</p><p>Nvidia’s success in the AI market of course have created a lot of optimism. And it’s not just Western markets either. Despite a lack of access to China’s huge market, NVDA stock has made significant strides to sell AI chips to India-based companies and other companies based out of East Asia.</p><p>These are just some of the reasons for Wall Street analysts to remain bullish on NVDA, despite the company encroaching upon its 12-month average price target.</p><h2 id=\"id_2445939085\">Valuation is trading at a good spot</h2><p>Nvidia’s share price has been trading at a record high. However, the chipmaker’s forward P/E ratio is still well below where it was 12 months ago. Then, the stock was trading at over 52.1x forward earnings.</p><p>With its recent rally, which has caused shares to appreciate more than 76%, the chipmaker’s stock now trades for just 35.6x forward earnings. This puts Nvidia’s earnings multiple below that of its key competitor, <strong>Advanced Micro Devices</strong> (NASDAQ:<strong><u>AMD</u></strong>), and right around where <strong>Intel</strong> (NASDAQ:<strong><u>INTC</u></strong>) is trading. Moreover, a company like <strong>Palantir</strong> (NYSE:<strong>PLTR</strong>), which has seen its share price skyrocket over AI hype, is trading at 79.8x forward earnings, despite its AI platform still being in the pilot phase.</p><p>That’s all to say, despite the valuation of NVDA stock looking expensive in certain regards, it is much less than where it was 12 months ago. Also, if the stock continues to dip, investors should see it as an opportunity to buy at a cheaper valuation.</p></body></html>","source":"investorplace_stock_picks","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia’s Dip Buying Guide: 3 Reasons to Scoop Up NVDA Stock on Any Weakness</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia’s Dip Buying Guide: 3 Reasons to Scoop Up NVDA Stock on Any Weakness\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-13 23:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2024/03/nvidias-dip-buying-guide-3-reasons-to-scoop-up-nvda-stock-on-any-weakness/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductor solutions for artificial intelligence applications will continue to be in high demand globally, and Nvidia (NVDA) will remain a market leader.The chipmaker maintains a resounding “Strong...</p>\n\n<a href=\"https://investorplace.com/2024/03/nvidias-dip-buying-guide-3-reasons-to-scoop-up-nvda-stock-on-any-weakness/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","BK4550":"红杉资本持仓","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","BK4141":"半导体产品","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","BK4551":"寇图资本持仓","BK4535":"淡马锡持仓","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","BK4512":"苹果概念","BK4548":"巴美列捷福持仓","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","NVDA":"英伟达","BK4554":"元宇宙及AR概念","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","BK4515":"5G概念","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","BK4534":"瑞士信贷持仓","BK4567":"ESG概念","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0079474960.USD":"联博美国增长基金A","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","BK4566":"资本集团","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC"},"source_url":"https://investorplace.com/2024/03/nvidias-dip-buying-guide-3-reasons-to-scoop-up-nvda-stock-on-any-weakness/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2419065435","content_text":"Semiconductor solutions for artificial intelligence applications will continue to be in high demand globally, and Nvidia (NVDA) will remain a market leader.The chipmaker maintains a resounding “Strong Buy” rating from Wall Street analysts, and NVDA’s target can increase as the company continues its AI success. Nvidia’s valuation remains at a 12-month low, and if the stock dips, it’s even more of a reason to buy the dip.Source: Ascannio / Shutterstock.comNvidia (NASDAQ:NVDA) did not end Friday’s trading session on a good note. The acclaimed chipmaker’s share price dropped more than 5%, causing investors to wonder if this is the end of Nvidia’s jaw-breaking rally. Last year, the company’s share returned a staggering gain of 240% last year, and Nvidia’s Q4 earnings report beat Wall Street’s expectations. Currently, the shares of NVDA stock have risen nearly 60% on a year-to-date basis.Despite predictions of a sustained Nvidia sell-off in the coming days, I believe investors should not only hold on to their shares but add more to their portfolio once the stock dips.Below are three reasons to buy the dip on NVDA shares.Artificial Intelligence solutions remain in high demandNvidia dominates in both gaming GPUs and AI chips. In fact, the chipmaker dominates about 81% of the market for AI chips used in personal computers and data centers. Moreover, Nvidia’s TensorRT software enables fast and efficient inference of AI models on edge devices. The chipmaker has effectively tackled and consolidated this new market in an unprecedented manner, and the only chipmaker likely to begin to rival it in the near future will be Advanced Micro Devices (NASDAQ:AMD), which plans to sell billions worth of AI chips in 2024.Even when AMD begins selling AI chips, NVDA will keep its stronghold on the AI market for the foreseeable future, until its competitor ramps up significant sells.Wall Street continues to be happy with NVDAWall Street analysts are excited about Nvidia’s prospects. The company has an overwhelming “Strong Buy” rating from analysts. Out of the 55 analysts covering Nvidia, 50 rate the stock as a “Buy” or “Strong Buy,” while 5 analysts have maintained a “Hold” rating.Nvidia’s success in the AI market of course have created a lot of optimism. And it’s not just Western markets either. Despite a lack of access to China’s huge market, NVDA stock has made significant strides to sell AI chips to India-based companies and other companies based out of East Asia.These are just some of the reasons for Wall Street analysts to remain bullish on NVDA, despite the company encroaching upon its 12-month average price target.Valuation is trading at a good spotNvidia’s share price has been trading at a record high. However, the chipmaker’s forward P/E ratio is still well below where it was 12 months ago. Then, the stock was trading at over 52.1x forward earnings.With its recent rally, which has caused shares to appreciate more than 76%, the chipmaker’s stock now trades for just 35.6x forward earnings. This puts Nvidia’s earnings multiple below that of its key competitor, Advanced Micro Devices (NASDAQ:AMD), and right around where Intel (NASDAQ:INTC) is trading. Moreover, a company like Palantir (NYSE:PLTR), which has seen its share price skyrocket over AI hype, is trading at 79.8x forward earnings, despite its AI platform still being in the pilot phase.That’s all to say, despite the valuation of NVDA stock looking expensive in certain regards, it is much less than where it was 12 months ago. Also, if the stock continues to dip, investors should see it as an opportunity to buy at a cheaper valuation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":247,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":11,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}