Stocks Soar Then Wobble as AI, Quantum Computing, Bitcoin Miners Face Uncertainty
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Nvidia, IonQ, and Marathon Digital Holdings stocks have skyrocketed in 2023 (Nvidia up 235%), but are now potentially overvalued.
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These companies are executing well in AI hardware (Nvidia), quantum computing (IonQ), and Bitcoin mining (Marathon).
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However, there is future uncertainty and competition that could negatively impact stock prices.
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Nvidia faces competition from AMD and Intel in AI hardware. IonQ's quantum computers are still early-stage. Marathon relies on continued Bitcoin price increases.
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It may be best to wait for a correction before buying more shares, rather than chasing these high flyers at current elevated valuations.