Cathie Wood Just Bought Nvidia Stock, Is It Finally Time to Buy?
Nvidia is now trading for just 16 times next year's profit target. Things could get even better.
Overview
The artificial intelligence (AI) revolution has taken a few turns in recent weeks. Nvidia (NASDAQ: NVDA), the company that started it all, has been sliding this summer after peaking in May. For the first time in months, Nvida no longer wears the market cap crown.
Apple's (NASDAQ: AAPL) rise this week, coupled with Nvidia's 10-week slide, leaves the class act of Cupertino alone at the top of the list of most valuable companies by market cap. The passing of ships -- or chips, if you prefer -- is creating an opportunity. Ark Invest co-founder and CEO Cathie Wood has been buying shares of Nvidia for all five of Ark's largest exchange-traded funds. Let's take a closer look to see if you might want to follow her lead.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.