This semiconductor stock is a 'no-brainer' buy if the chipmaker crunch persists, expert says. (via TradingNation)
Nvidia has been hit hard in recent months, far worse than the broader semis industry. The stock has tumbled 13% in the past three months, while thehas fallen 1%. However, Nvidia has begun to outperform the SMH ETF this month.
"With Nvidia, you're getting best-of-breed exposure to all the highest growth end markets that we want to play -- autonomous vehicles, AI, data center, gaming," said Tepper. "It's trading below $145 right now. And it looks really nice in the $135 to $140 range. You might even be able to get it at around $125, and it's just a no-brainer at that level."
Nvidia would need to fall another 14% to reach $125. It touched that level at its December lows, though it has not traded firmly below there since mid-2017."We're going to be chopping around a lot because the recent volatility that has been injected into the SMH feels like we're back in the beginning of 2018," MKM Partners chief market technician JC O'Hara said during the same segment. "If you remember, this ETF whipped around 15% to 20% nearly every single week.
O'Hara notes that the SMH ETF saw a major overreaction to the downside in December, which then kicked off a major overreaction to the upside earlier this year. The semis space could be in the middle of its next downswing, he says. "Investing in the SMH is very difficult here. I think volatility is coming back. I prefer to look at individual names within it. A great-looking chart is
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