Nvidia's CEO Called the Dip Months Ago. Here Is How the Trade Played Out.
Jensen Huang saw opportunities in June's tech sector sell-off, but the next few months told a more complicated story for Nvidia.
Overview
On June 8, Nvidia (NASDAQ: NVDA) CEO Jensen Huang called the sharp technology sector sell-off that occurred in early June a buying opportunity. Speaking to reporters in Seoul that day, Huang said the artificial intelligence (AI) infrastructure build-out was still in its early stages. So, investors should be "very happy because now you can buy at a discount."
His call seems to have been spot on so far. From its opening price on June 8 to the close of trading on Sept. 4, Nvidia's stock gained about 9.6%, compared with a roughly 3.7% gain for the S&P 500 (SNPINDEX: ^GSPC) over the same period.
Details
However, investors should note that Nvidia's shares did not immediately move higher after Huang's comments.
Source
Originally published at www.fool.com.