Nvidia has had an astronomical rise, soaring over 200% in 2023 alone on the back of the artificial intelligence buzz. Though the stock dived more than 5% on Friday and by another 2% on Monday, it’s still up this year by around 73%. In fact, many are still bullish on Nvidia, giving more upside to its shares. But after a heady year of exploding revenue and profit projections, some may start to question the long-term sustainability of its growth rate. Is it time to take profit, even if only partially — or should investors stay the course? Here’s what those who currently hold Nvidia shares are doing — or planning to do — with their positions. Sell at least some Some are saying it’s time to sell or that they have already sold part of their Nvidia shares. Vahan Janjigian, chief investment officer at U.S.-based Greenwich Wealth Management, says he had a “big position” in Nvidia until recently. “But I got a little nervous because I do think the stock is overvalued, especially when you look at it on a price to sales basis. It’s selling for about 35 times sales, which is very high compared to some of the other technology companies,” he told CNBC’s ” Street Signs Asia ” on Tuesday. “If you believe that Nvidia can grow its revenues by 30% annually, which I think it can for at least a few years, but it would have to do that for almost 15 years to be able to get back your investment in the stock and that assumes a 100% profit margin,” he added. Janjigian would rather invest in Nvidia via exchange-traded funds now. He says he has “rather large” positions in three of them: the SPDR S & P 500 ETF Trust, Invesco QQQ Trust Series 1 and VanEck Semiconductor ETF. He pointed out that Nvidia has a large weightage in all of them, taking up 26% of the VanEck Semiconductor ETF. “I felt I no longer needed to own the stock individually,” he said, adding that having both the stock and ETFs gave him “too much exposure” to Nvidia. Paul Gambles, managing partner of MBMG Family Office…
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