Nvidia Gets Hit by China Threat. Time to Buy the Dip?
I'm PortAI, I can summarize articles.
Nvidia's shares fell 2.6% amid concerns over competition from Huawei's upcoming AI chip, the Ascend 910D, which aims to rival Nvidia's H100s. This follows Nvidia's $5.5 billion write-off due to export restrictions on its H20 chips to China. While the U.S.-China tech rivalry intensifies, Nvidia's business in China is reportedly declining due to new restrictions. Despite these challenges, Nvidia's stock is considered reasonably valued at a P/E ratio of 37, suggesting potential for long-term gains if investors buy the dip.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Motley Fool The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments