Top-3 Growth Stocks: Nvidia
Nvidia stocks have lost over 65% since November 2021. But even with this loss its shares cost more than 200% above September 2019 prices. General market correction together with high inflation expectations are dragging its stocks down as investors fear lower demand would hit the company’s profit. That is hard to believe as the company’s products are in demand in many spheres like the gaming industry, cryptocurrency mining, data centers, car manufacturing, and others. Even if demand does decline from one of these spheres the others will still support the company.
NVDA stocks have plunged by 50% and more but have recovered every time and continued to rally. And it is likely to happen again in the future as the use of high-tech products is increasing in everyday life and this trend is unlikely to slow down. The number of high-tech devises in the market is also growing every year in the fields of medical equipment, robotic technology, AI software, car systems, and many others that could not have expanded their product line without Nvidia devices.
The management of the company announced a vast buy-back program at $15 billion as the company believes its shares are heavily undervalued.
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