Is Nvidia Stock a Buy or Sell Below $100 as a Global Trade War Escalates?

The euphoria about artificial intelligence (AI) is dissipating now, even though it does not look like the typical boom-to-bust cycle. Nvidia (NVDA) was the biggest beneficiary of the AI trade, reflected in its parabolic price action, which some see as reminiscent of Cisco (CSCO) during the dot-com days.

Meanwhile, Nvidia’s stellar rally was backed by a more than commensurate rise in its sales and profits. In its fiscal year 2025, which ended on Jan. 26, 2025, Nvidia reported revenues of $130.5 billion, compared to $27 billion in fiscal year 2023, which was the last fiscal year before sales of its AI chips really took off.