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Nvidia stock has slid since late March, correcting by over 10% from all-time highs.
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BofA analysts say there’s nothing to worry about, and the company will still dominate in the AI chip space.
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None of the factors behind the sell-off meaningfully change the narrative for Nvidia, they said.
Nvidia stock has tumbled recently, with the share price correcting by more than 10% from the latest all-time high, but Bank of America is telling investors not to worry about the recent slide as the chip titan is still in prime position to dominate.
BofA analysts led by Vivek Arya said in a note Wednesday that despite the 11% plunge since late March, they remain bullish on Nvidia and predict the company will hold onto its top spot as the industry’s leading producer of the chips that power the booming artificial intelligence space.
The analysts note that…
