CNBC's "Fast Money" Is Nvidia Stock Actually Undervalued? And the Insurance Impact of Hurricane Idalia 8/30/23
Aug 30, 2023
Nvidia stock is potentially undervalued and could rally 50% more; insurance companies preparing for claims from Hurricane Idalia; discussion on tech stocks including Microsoft and Nvidia; potential undervaluation of CCJ stock in the nuclear industry; potential impact of challenging economic climate on insurance and cannabis reclassification; potential impact of FDA's cannabis rescheduling recommendation.
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Nvidia's Impact on Tech Rally
- Nvidia's shares hit another record high, driving the tech rally.
- The stock is up 237% year-to-date and 7% since Monday.
Tech Stocks: From Risky to Defensive
- Tech stocks transitioned from risky to secure and defensive plays.
- They are now perceived as bargains despite still being potentially overpriced.
Nvidia: A Bargain?
- Ben Reitzes claims Nvidia is cheap, citing its growth and TAM.
- He projects over 40% growth in sales and EPS, making its 29x multiple a bargain.