Investors who are concerned they're overexposed to Nvidia could replace the name with these steady growth stocks instead, according to Trivariate Research's Adam Parker. Nvidia's earnings results next month will likely be "the most important pending data point" this earnings season, as strong guidance from the chipmaker could mean the artificial intelligence trade still has legs, Parker wrote on Sunday.
mountain Nvidia shares over the past year But for investors worried Nvidia could be due for a pullback, it may be time to find alternatives to the stock, Parker continued. Nvidia shares have made an eyewatering advance this year, up by more than 80%, but it has dipped slightly this month amid concerns that a weakening macro could finally put a dent in the stock. "A change in financial conditions will create more volatility," Parker wrote.
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