Nvidia is the dominant provider of chips to train artificial-intelligence systems, with AMD in second. The latter's shares may have more upside, says Melius Research.
As the AI leader hovers above its 50-day moving average again, investors holding Nvidia could be asking themselves, should they continue to hold or take some profits? Nvidia's chart shows a clear buy point from a base again, according to IBD MarketSurge. Meanwhile, investors await Nvidia's May 22 earnings report.
It was a tough month for AI tech stocks as inflation fears were rekindled and a few bellwethers reported earnings that couldn't live up to expectations.