Shares of Nvidia (NVDA) are trading higher on Tuesday following a major sell-off in the tech sector on Monday. The chip giant has seen its shares beaten up as investors look to swap out of the “Magnificent Seven” stocks and broaden their holdings.
Moor Insights & Strategy founder, CEO, and chief analyst Patrick Moorhead joins Morning Brief to give insight into the tech sector, Nvidia’s recent sell-off, and how the stock may fare going forward.
On Nvidia’s recent volatility, Moorhead comments: “This stock was so hot for so long that any type of hiccup or bad news could mean a selloff. And you add to what happened over in Japan and some other risks that that melted the entire market, but you have to stand back and look at the overall short-, mid-term and long and then align whatever investment strategy you have, with those opportunities and risks, I don’t see anything changing in the data center for Nvidia, for the next 12, maybe even 18 months.”
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