Is This High-Flying Chipmaker Worth Buying in 2023?
Shares of NVIDIA Corporation have gained 6.6% over the past month and 83.3% over the past six months to close at $240.63 on the last trading day. Optimism about NVDA's performance in high-growth markets, including data centers, automotive and artificial intelligence, is driving investor sentiment. The stock is currently trading above its 50-day and 200-day moving averages of $202.65 and $167.35, respectively.
However, given NVDA's poor financial performance in the fourth quarter and fiscal 2023, its overvaluation and recent macroeconomic headwinds, I think it may be wise to wait for a better entry point for the stock. $NVIDIA Corp(NVDA)$ $Semiconductor Bull 3X Shares(SOXL)$ $Philadelphia Semiconductor Index(SOX)$
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