NVIDIA (NASDAQ: NVDA) was one of the hottest stocks in 2016, surging 220% throughout the year and crushing the NASDAQ’s 20% gain. But that rally abruptly petered out in 2017, and the stock has declined 3% year-to-date.
Does that weak start indicate that NVIDIA could be running out of steam? Or is the stock merely taking a breather before fresh catalysts propel it to new highs? Let’s take a closer look at the bearish and bullish cases to find out.
NVIDIA’s DRIVE PX 2 powered Roborace vehicle. Image source: NVIDIA.