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We recently published a list of Top 10 Stocks Wall Street is Discussing. In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against other top stocks Wall Street is discussing.
Bill Strazzullo, Bell Curve Trading chief market strategist, said in a latest program on CNBC that the market rally that started during the peak of the pandemic driven by fiscal stimulus seems to have “tapped out.” The analyst sees more pain ahead:
“The bottom line of all this is that we’ve only started this. We’ll be lucky if we get out of this top to bottom only down 20%. I think eventually, across the indices—Dow, S&P, NASDAQ 100—we’ll end up being down 25% before it’s all done.”
Asked what he would advise to long-term investors, the analyst recommended taking some money off the table and bracing for more impact:
“It’s not anything very esoteric. Take some money off the table—you’ll be able to deploy that capital at much better levels later in the year. But right now, Trump is taking us not only into a trade war but into a full-blown recession. I think the mistake people are making is that we’ve been spoiled with these V bottoms—we go down 10 or 12% and then right back up. This is not going to be like that. We are going to be in for a much deeper drawdown and I think something that’s going to last a significant amount of time.”
READ ALSO: 7 Best Stocks to Buy For Long-Term and 8 Cheap Jim Cramer Stocks to Invest In
For this article, we picked 10 stocks making moves on important news. With each stock we have mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
NVIDIA Corp (NASDAQ:NVDA)
Number of Hedge Funds Investors: 193
Aswath Damodaran, NYU Stern School of Business professor of finance, said before NVIDIA Corp’s (NASDAQ:NVDA) latest earnings report that the company will beat Wall Street estimates and still “disappoint” investors amid high expectations.
“I valued them about $90 before the election, before the market downturn. They were trading at 108 then, and today they’re trading at 128. So, in terms of perspective, even with the beating they’ve taken in the last few weeks, the stock is still $20 higher than it was in September of 2024. At that time, I said the stock is a great company, but I don’t see how you can get to $120 or $130 per share still. I think that’s still what I said then, and it still holds. They don’t have the capacity in terms of generating earnings and cash flows to sustain a $3 trillion market cap. I think that still stands. As the earnings report comes out tomorrow, my expectation is it’s going to be a lot like September, a replay of September, where they will beat analyst expectations, but the market’s going to be disappointed because the market seems to have set expectations higher than what analysts are seeing for the company.”