Nvidia Corporation (NVDA) “seems to be in all the right sectors”, Michael Cuggino, president and portfolio manager of the permanent portfolio family, recently said on the Schwab network.
The long -standing investor noted that he had bought “a little more” NVDA shares during his sale in recent weeks. He said the actions had become “cheap” during their slowdown.
“In all the right areas”
Among the solid sectors in which Nvidia Corporation (NVDA) operate are “data centers, AI, games and advanced applications,” said Cuggino.
His emphasis on these areas has positive implications for its growth and “success as an investment”, suggested Cuggino.
“We do not see (these favorable trends) changing its soon.” He added.
The challenges of Nvidia Corporation (NVDA)
Despite Cuggino’s optimistic perspectives on NVDA’s stock, he cited certain potential and negative catalysts that the technology giant could face.
More specifically, he said that the flea manufacturer may have to face unfavorable “inventory problems” and at the request of shortages, and he said that NVDA was “not cheap”.
The recent NVDA price action
Last month, the action jumped 40%, but it was down 2.5% in the last three months.
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Disclosure: None. This article is initially published on Insider Monkey
