3 Reasons to Buy Nvidia Stock in July
Nvidia (NASDAQ: NVDA) is capping off another successful quarter of trading. The global leader in artificial intelligence (AI) is trading 12% higher heading into the final trading day of the calendar quarter.
But June has been a bust. Nvidia is trading 8% lower in this otherwise resilient month for the markets. Market leadership has shifted from the initial AI leaders to beneficiaries like memory and data storage manufacturers. The upticks there have been driven by demand outstripping supply, resulting in surging prices and thick margins for a historically cyclical industry.
Could this also be an opportunity for existing or potential Nvidia investors? Let's go over some of the reasons why the stock with the largest market cap can bounce back in July.
Source Fool.com
