Nvidia investors should've sold the stock a month ago, strategist says

Published On Aug 29, 2024, 3:15 PM

Nvidia has seen a sharp decline in its stock after failing to meet high investor expectations in its recent fiscal Q2 earnings report. Although profits and revenue topped forecasts, the earnings beat was the smallest in six quarters, causing the stock price to drop significantly. An analyst suggested that investors should have sold their shares over a month ago, indicating that the stock is overpriced given its valuation metrics. Despite this, most analysts continue to have a positive outlook on Nvidia due to its strong revenue growth and the ongoing demand for AI technology. However, there are concerns about the sustainability of earnings expectations moving forward.