Tyler Kendall

When you look at the companies that have commented, basically they don't have enough capacity for all the demand and they've been able to raise prices.

So that doesn't sound to me like a peak of a market that's ready to collapse at all.

Well, I'm not sure anything NVIDIA could say will be enough to assuage market concerns.

But really, when you look at the big market corrections, the economic corrections, they've all been driven by, frankly, Federal Reserve activity when they start to aggressively raise rates.

So right here it looks, you could say, well, the Fed is somewhere between neutral to slightly easing.

And again, that is not the precondition.

I think we've been through so many of these cycles, all driven by the Fed, that we think it's natural that we should have a big downward correction.

And I don't think we will.

I think we'll just have a continued period of slow growth for most of the economy.

The tech sector is very strong because artificial intelligence is really a qualitative leap in the kind of technology that we've had over the last several decades.

So we think it's just a small correction.

In fact, if you look at NVIDIA, the stock really for this quarter, the fourth quarter, is really just about flattish.

And all they are, except for Google, is the only one that's up for the quarter.

So that says to me there's a lot of nervousness waiting for NVIDIA.

But I think after that clears the air, I think we'll have a strong finish because the fundamentals are still so strong as far as the eye can see, which I would say is at least for another year or so.

Well, I think it's a moderate opportunity, yes, because at least you have some of the discount.

The PE is around 40 times, and that's higher than the average stock, which is around 27 times.

But on the other hand, their leaders in their sector, they should have an above-average growth as far as the eye can see.

So it's really not as high price as it was relatively a few months ago.

So I'd say, yes, it's a good time to add to NVIDIA because their fundamental position is really strong.