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Nvidia Corp's soaring rally has thrilled investors this year - except for the sizeable number of fund managers who avoided what they believe to be an expensive stock. Shares of the...
NEW YORK : Nvidia Corp’s soaring rally has thrilled investors this year - except for the sizeable number of fund managers who avoided what they believe to be an expensive stock.Shares of the semiconductor company - whose chips power generative AI apps such as ChatGPT - have more than tripled this year i
Across nearly 330 mutual funds benchmarked to the S&P 500 or a similar index, only 15% held an above-index weight in Nvidia, according to a Morningstar analysis of the funds' most recent regulatory filings. Among those funds that held a below-average weight in Nvidia, 85% underperformed the index so far this year, Morningstar's data showed.
Across nearly 330 mutual funds benchmarked to the S&P 500 or a similar index, only 15% held an above-index weight in Nvidia, according to a Morningstar analysis of the funds' most recent regulatory filings. Among those funds that held a below-average weight in Nvidia, 85% underperformed the index so far this year, Morningstar's data showed.
We do not foresee an imminent Chinese invasion on Taiwan. We remain cautious on China investment but remain optimistic on U.S. stocks.