While prominent chip maker NVIDIA Corporation’s (NVDA) shares have seen a significant gain this year mainly due to the AI boom, the company reported disappointing results for the fiscal 2024 first quarter, which raises concerns about the company’s near future growth prospects.
In addition, considering the anticipated macroeconomic difficulties including supply chain disruptions in the semiconductor industry, high borrowing costs, and decreased consumer spending due to inflation and recession, it would be prudent to wait for a better opportunity to invest in this stock.
