Over the long term, driven by strong demand for its chips from data centers and companies incorporating artificial intelligence, Nvidia (NASDAQ:NVDA) stock will almost certainly outperform the Nasdaq exchange and the S&P 500. In the short term and the medium term, however, there are multiple indications that NVDA stock is poised to be badly damaged by the bursting of the crypto bubble.
Recent developments have made me much more certain that cryptos are poised to tumble soon and that the retreat is likely to lower Nvidia’s stock price by a sizeable amount.
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