Nvidia plunges to pre-AI boom prices while Apple drops $30B on chips — buy the dip on NVDA
Nvidia has lost a massive amount of value recently, making it surprisingly cheap and leading some traders to bet on a rebound. Meanwhile, Apple just committed to a massive $30 billion deal for Broadcom chips, showing that the broader demand for silicon remains incredibly strong despite the recent tech rout.
Idea
Bloomberg reports Nvidia has shed roughly $1 trillion in value, bringing its valuation down to levels not seen since before the AI boom began. Despite this sell-off, CNBC notes that traders are actively betting on a snap-back rally for the chipmaker. Connecting this to the news that Apple just locked in a $30 billion deal with Broadcom, it's clear that the fundamental demand for high-end silicon is far from broken. If massive chip deals are still happening, the broader AI and tech selloff looks overdone, making Nvidia's new 'cheap' valuation a prime target for a bounce.
What happened since
| Symbol | Dir | T+1 | T+5 | T+20 |
|---|---|---|---|---|
| NVDA | LONG | -0.66% ✗ | — | — |
Price change since publication · updated Jul 12