Nvidia Stock Drops Despite Strong Earnings as Market Underestimates AI Growth Potential
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Nvidia reported strong Q3 earnings, but stock price dropped; author believes market is underestimating future growth potential
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Nvidia powers major advances in generative AI like ChatGPT, which is driving huge demand for its GPUs
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Nvidia dominates the AI chip market; new H100 and upcoming H200 GPUs put Nvidia far ahead of AMD and Intel
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Risks include China export bans limiting data center revenue growth, potential future competition, and slowing demand growth
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Author forecasts continued beat-and-raise quarters based on strong backlog and new product launches; reaffirms "Buy" rating with 40% upside