NVIDIA's 12% YTD Gain Underperforms Peers: Should You Still Hold It?

NVDA is up 11.9% year to date, lagging chip peers, but the upside case remains intact on AI data center demand and the Blackwell ramp-up. A lower P/E and strong quarterly results support the valuation, suggesting the stock still has room to re-rate despite relative underperformance.

Analysis

NVDA is up 11.9% year to date, lagging chip peers, but the upside case remains intact on AI data center demand and the Blackwell ramp-up. A lower P/E and strong quarterly results support the valuation, suggesting the stock still has room to re-rate despite relative underperformance.