After hitting record highs, Nvidia (NVDA) is on track for its third consecutive session of losses. Harvest Portfolio Management Co-CIO and Nvidia shareholder Paul Meeks joins Catalysts to discuss the stock’s movement and Nvidia’s upcoming shareholder meeting.
Meeks expects Wednesday’s meeting to "make investors feel comfortable that there is a long runway yet," as the company touts its AI initiatives. He believes that CEO Jensen Huan’s remarks will cause the stock to rebound from its period of declines.
"I think you must believe that the company will continue to upside numbers. I mean, they have scorched the quarterly numbers for about, as you know, a year and a half ever since the advent in November of ’22 of ChatGPT, and I think you can probably expect more of the same," Meeks adds. He expects Nvidia to continue to push the narrative that the AI chip boom will last longer than expected, allowing them to continue to beat earnings estimates.
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