Heading into its August 26 earnings, the Nvidia stock looks strong.
Nearly every analyst covering the stock rates it a buy
The shares have been higher over the past week, month, and year, and the company is expected to almost double its profit. Nothing on the surface says caution. Yet the real risk is not on the price chart at all.
It sits inside the demand everyone is celebrating, and Michael Burry, the investor who called the 2008 housing crash, has put a number on it. The Nvidia Setup Looks Bulletproof The tape gives the bulls everything they want. Nvidia (NVDA) has gained nearly 11% this year, bouncing from a spring low around $164 to roughly $208, even if it sits below the $236 record it set in May.