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# Nvidia Is Likely To Have A Time Correction Vs The Broader Market (Archive)
- URL: https://www.huntingalphas.com/nvidia-is-likely-to-have-a-time-correction-vs-the-broader-market-archive/
- Published: 2024-09-30T13:00:00.000Z
- Updated: 2026-02-28T03:02:31.000Z
- Description: NVIDIA likely consolidates in a time correction while its broader uptrend persists.
- Author: Vish (Hunting Alphas)
- Tags: 5-Minute Pitches, #noindex, Archive, #sa-origin, Tech, NVDA

*This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.*

## Elevator Pitch

- I am correcting my last 'Sell' view on NVIDIA; despite Q2 FY25's result and guidance playing out as per expectations, the stock has not moved down materially as expected.
- Capex spending expectations from NVIDIA's top customers such as MSFT, META, AMZN, GOOGL and TSLA are broadly stable, unlike a few months ago when there were broad downward revisions.
- Chinese players are reducing reliance on NVIDIA by developing their own chips in response to government's moves to reduce US chip reliance and save costs.
- The recent correction in NVDA stock is driven by valuation multiple contraction as earnings growth expectations are still present. I expect this contraction to revert given easing of rates.
- Relative technicals of NVDA vs SPX point to a pause amid a broader uptrend, suggesting a period of ranging action ahead (i.e. a time correction).

Read the full article [here](https://seekingalpha.com/article/4724122-nvidia-stock-likely-have-time-correction-vs-broader-market-upgrade-hold?ref=huntingalphas.com).

#### Disclosures and Disclaimers

**Past performance ≠ future results. Not investment advice. See* [**full Disclaimer*](https://www.huntingalphas.com/disclaimer/)**.*