As Nvidia Stock Rallies 8% This Week, Expert Says 'Be Patient' And Look For 'Opportunity' To Buy Jensen Huang-Led Company Shares At 'Lower Levels'

Financial advisor Delano Saporu shared his views on Jensen Huang‘s NVIDIA Corporation (NASDAQ:NVDA) stock, suggesting that investors could either be patient or look for buying opportunities at lower levels. He made these comments during an interview on Friday.

What Happened: During CNBC’s “Worldwide Exchange” on Thursday, Saporu emphasized the potential for investors to capitalize on market fluctuations, particularly if Nvidia’s stock takes a breather. His insights come at a time when Nvidia has been experiencing significant market activity.

“Near-term, it could be an opportunity for investors to one, be patient if there are any holding, or two, look for areas where the market takes a little bit of a breather, Nvidia takes a breather, and actually buying at lower levels,” Saporu said.

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Why It Matters: Nvidia recently reached a $3 trillion market cap, joining the ranks of Apple Inc. and Microsoft Corporation. The stock has surged due to high demand for its AI chips, making it the second most valuable company in the U.S.

Nvidia’s valuation has increased by 147% in 2024, driven by strong demand from tech giants like Meta Platforms Inc. and Alphabet Inc. The company also plans a ten-for-one stock split to attract more individual investors.

Despite recent stock adjustments, Cathie Wood of Ark Investment Management remains bullish on AI investments, including Nvidia. Wood highlighted her firm’s continued exposure to emerging tech players.

Price Action: Nvidia shares closed at $1,210.45 on Thursday, according to Benzinga Pro. The stock’s 52-week range is $373.56 to $1255.87.

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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari