Time to sell NVDA?
$NVIDIA Corp(NVDA)$
Nvidia announcing a lame buyback program that is equivalent to 1 year of their cashflow, while at ATH prices while Jensen is selling off shares, and while one of their largest customers is now under heavy scrutiny in my mind signals a turn in the market.
Without some groundbreaking new launch from an AI company like OpenAI to strengthen this bull market, I'm predicting a 20-30% short term downside in Nvidia through end of 2024, followed by a further correction in 2025 down to $30/share range.
Most interesting of all is the Fed's recent pivot on interest rate policy while inflation is still around 2.6% and proving sticky. They would not pivot without some kind of expectation about a downturn in the real economy/ jobs market.
just some food for thought. I have been consistently skeptical of the 'AI' trade since Feb 2023, which has obviously been a losing position. I was also skeptical of Crypto in 2021, especially of FTX and Solana which turned out to be 100% the right call.
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