Investor darling Nvidia continued its artificial intelligence-fueled boom, beating profit expectations last week. The company’s profit report on Wednesday sent its shares above $1,000 for the first time. The stock continued to perform well during Thursday’s trading session, eventually rising more than 9% to hit a new all-time high. But some analysts worry that growth may have slowed last quarter or that there may be a “hole” in sales at the end of the year. “The big remaining question is how long the runway is,” said Lucas Keh, an analyst at research firm Third Bridge. “When the majority of AI workloads in the cloud move from training to inference, Nvidia “Our dominant market share position will be tested. Most inference use cases don’t require the depth/number of operations offered by Nvidia’s top GPUs,” he said. Nancy Tengler of Laffer Tengler Investments said she expected to see higher gains given the “blowout earnings.” “But I think a lot of it has been priced in and now you’re going to see it trickle down to other players in this space,” the chief investment officer said Thursday on CNBC’s “Squawk Box Asia.” Wall Street remains Most analysts are bullish on Nvidia, with several analysts raising their price targets on the stock. But investors worried about being overinvested in Nvidia or looking to make their portfolios more balanced could consider swapping their allocation to Nvidia or supplementing it with other growth stocks that have lower correlations with the chipmaker. CNBC Pro used FactSet to screen four exchange-traded funds that have had negative or low correlations with Nvidia over the past month. These ETFs include the Vanguard S&P 500 Growth ETF, Schwab US Large-Cap Growth ETF, Vanguard Russell 1000 Growth ETF and Fidelity Enhanced Large-Cap Growth ETF. These stocks show up.
