Wall Street Can’t Get Enough of Nvidia. 3 Reasons NVDA Is a Must-Own Stock. | Markets

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United States equities have calmed down since their rally in the first quarter of 2024. The S&P 500, Nasdaq, and Russell 2000 have all dipped slightly from their previous highpoints. While market trends, such as the generative AI craze, may have been enough to lift stocks to new heights, nowadays analysts and investors are increasingly worried about how stretched trading multiples have become. This has led to my positive backdrop for Nvidia stock (NASDAQ:NVDA).

Inflation has also returns to the forefront of analysts’ minds. Economists and market analysts had expected there to be a downtick in the core consumer price index figures for March, but instead, there was a month-to-month increase of 0.4% while the Y/Y rate for the core CPI remained at 3.8%. In other words, inflation seems here to stay for some time, which casts doubt on any Q2 rate cut that some analysts were hoping for.

However, for tech heavyweights like Nvidia, a higher CPI is unlikely to slowdown the artificial intelligence-linked rush that has sent the chipmaker’s shares soaring. Since the release of the March report, NVDA shares have dipped around 2.7%, but below are 3 reasons to keep NVDA in your…

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