Currently at the top of the semiconductor space is NVIDIA Corporation (NASDAQ:NVDA). The company was valued at nearly $900.0 billion in November 2021 and is on its way to becoming the first trillion-dollar semiconductor company.
The technology stock market began to show cracks after its stellar run-up in 2021 that was driven more by sentiment and lofty expectations than by fundamentals. Generally, this kind of mismatch between valuation and fundamentals doesn’t end up well.
Since then, NVDA stock has been battered. Shares of NVIDIA Corporation have plummeted from $346.47 in November 2021 to $246.85 as of this writing. That represents a retrenchment of nearly 30%.
Is now the time for investors to consider NVIDIA stock?
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