Nvidia Shows Wild Action As It Grasps At 900; Is Nvidia A Buy?

Nvidia (NVDA) fell Monday after a bearish reversal Friday. But the stock made up some ground and rose 7% on Tuesday only to reverse lower again on Wednesday. Shares remain just above the 10-day moving average Tuesday. Is Nvidia a buy now?

The stock has been weaving above and below the 900 level in volatile action since Friday.

Shares soared after earnings were announced Feb. 21, touching an all-time high of 974 on Friday. Shares remain extended from their key moving averages.

Nvidia delivered yet another beat-and-raise quarter in February. Earnings of $5.16 per share on sales of $22.1 billion beat views of $4.59 earnings per share and $20.4 billion in sales.

Earlier, the company observed that limited supply of AI chips as the biggest challenge to growth. Customers may also wait for the next generation B100 chip that is expected in the coming quarters. Baird analysts saw this as a good thing. B100 chips will have better performance and will likely have a higher average selling price. $NVIDIA (NVDA.US)$