We recently published a list of 10 Mega Cap Stocks Gaining Bullish Momentum This Week. In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against other mega cap stocks gaining bullish momentum this week.
The S&P 500 index started the week with a bang after staying under pressure for a few days. There was a realization that Wall Street may have overestimated the impact of tariffs. Once the dust settles, the market will continue to go higher, just like the US economy which continues to grow despite challenges.
When the broader market corrects itself due to uncertainty, such as the one brought about by Trump’s tariff wars, mega-cap stocks also get affected. This provides investors, especially the ones that invest at regular intervals, to take another bite of these impressive stocks. The same situation happened during the last week, and we believe that after Monday’s impressive recovery, the trend is about to reverse.
Mega cap stocks like the ones in our list have driven the market in recent months and are therefore likely to be the ones leading it again. We decided to come up with the top 10 mega-cap stocks in the S&P index that have lost a considerable chunk of value in the last month and are now trading at a discount, a valuation gap that could quickly be recovered during this week’s trading.
To come up with the list of 10 oversold S&P 500 Mega-Cap Stocks To Trade This Week, we only looked at stocks with a market cap of at least $200 billion that have lost the most value in the last month.
A close-up of a colorful high-end graphics card being plugged in to a gaming computer.
NVIDIA Corporation (NASDAQ:NVDA) operates as a computing infrastructure company and offers compute & networking and graphic solutions. The company operates in two segments: Compute & Networking and Graphics. Its products are used in data centers, gaming, automotive, and professional visualization markets.
Nvidia (NASDAQ:NVDA) recently held a Q&A at its GTC event and that prompted analysts to continue their bullish view on the company. For instance, Morgan Stanley reiterated its $162 price target on the company, saying it was more positive on its prospects than before.
Nvidia (NASDAQ:NVDA) also bought the synthetic data company Gretel for an undisclosed amount, though the figure is expected to be somewhere between $350 million and $500 million. As AI training models use up human-generated data, synthetic data is in demand, and Nvidia is positioning itself to benefit from that.
Source link
