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Is Nvidia’s biggest buy-the-dip opportunity of the year here?
The stock’s performance right now is nothing short of brutal. Nvidia lost $470 billion in market cap in two days, with its share price falling from a high of $243 to $167—a decline of more than 30%!

The reason for the drop seems far-fetched, but the issue is already gaining traction: Jensen Huang has been drawn into espionage-related suspicions. What the market fears most isn’t bad news that has already materialized, but unknowns and uncertainty.

So, is Nvidia a buy at these levels?
Let’s take a calm look at the fundamentals: revenue last quarter was $96.2 billion, more than double year over year. The company’s revenue forecast for this quarter is $108 billion—and that doesn’t even include the Chinese market.

Now let’s look at valuation: at its peak, its forward P/E was around 18. Now it’s down to roughly 12—just one-third of its five-year average of 36, and near its lowest valuation in more than a decade. A company whose revenue is still doubling is valued even lower than Walmart.

Remember the DeepSeek episode last January?
A homegrown Chinese large language model burst onto the scene, and the market turned bearish on computing power. Nvidia plunged 17% in a single day, losing $590 billion in market value—the biggest single-day market-cap drop in U.S. stock market history.

And what happened? Six months later, Nvidia hit new highs, with its market cap surpassing $4 trillion. Many people who panic-sold back then ended up buying back in at much higher prices.

Signals from the White House are also crucial. Asked whether Jensen Huang should remain CEO, Trump said directly: “I think he should, of course.” The White House has no current plans to take action against Nvidia.

So my view is that this turmoil will eventually pass. I plan to build a position in stages while the market is gripped by fear. When a stock is unfairly punished by sentiment, recovery often takes months, so there’s no need to rush into a position.

Looking at the chart, the price has now pulled back to the $160–$170 range, a previous low and the first support level, where you could consider making an initial purchase. The next strong support is around $150. If it falls to that level, it would be an even better buying opportunity—if the market gives us the chance.

There’s still plenty of uncertainty, so remember to enter in stages. There’s another key test next week: Nvidia will report earnings after the market closes on November 17, U.S. Eastern Time. Whether the final figures will be good or bad remains to be seen.