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Barchart
Barchart
Mohit Oberoi

Thinking About Buying the Nvidia Stock Dip? 4 Reasons to Stay Away Now.

Nvidia NVDA Donald Trump

Nvidia (NVDA) fell over 8% on Thursday, Feb. 27, bringing its year-to-date loss to over 10%. The chip giant is now the third-worst-performing constituent of the Magnificent 7, and its YTD drawdown is similar to that of Alphabet (GOOG). Tesla (TSLA) is the worst performer among the coveted group this year, and the stock is among the top losers in the S&P 500 Index ($SPX) as well. NVDA was the best-performing Magnificent 7 stock over the past two years as it became the face of the artificial intelligence (AI) rally. The company has been powering tech companies’ AI ambitions, and it has been a major recipient of their burgeoning capex.

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