Time to back up the truck?

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nvidia (NVDA) CES– Induced selling attack plan.

At the glitzy tech gathering this Monday, Nvidia CEO Jensen Huang subscriber The company has begun production of the long-awaited product Blackwell slide On high alert. “We’re racing to get Blackwells into every data center in the world,” he told a crowd while wearing a shiny black crocodile-skin jacket.

The company also unveiled a host of new technologies to support its growing robotics and self-driving car ambitions, Yahoo Finance’s technology editor said. Daniel Holley I mentioned.

But the street wanted more of its shares, my dear.

Read more: Why does AMD seem undervalued?

Hwang’s calmer words compared to the high expectations combined with overall investor volatility It sent Nvidia into a tailspin – with bears sending the stock down 6% on Tuesday despite hitting a record high the day before.

The stock is now down 8% from those highs mentioned above.

Wedbush Technology Analyst Dan Ives He was in the room when Huang spoke at CES and believes the sell-off is overdone.

“I think what Jensen is making is that these are early days (in AI),” Ives told Yahoo Finance’s executive editor. Brian Susie on Open the bid Podcast (see video above, listen below). “It’s just the beginning of the revolution but (fear of selling) has been worrying investors.”

“We can go back to quarters where stocks sell off, the bears come out of hibernation, the stock hits $100, and then suddenly, two months later, it goes back to all-time highs,” Ives continued. “It’s easy to be afraid of these knee-jerk reactions because they don’t say anything about near-term demand.”

“The reality is you come out of this more bullish rather than less bullish because of what the market opportunity means in terms of robotics, autonomous driving and the future,” he said.

From Ives’ perspective, the future for Nvidia and AI looks bright. By one analogy, he put more traditional investments like health care or finance in the bucket like “a pickup truck going 40 mph” while technology stocks like Nvidia were “like a Ferrari in the left lane.”

Compare the excitement around Nvidia to the hype at CES once upon a time when Apple (Apple) Co-Founder Steve Jobs “There is something different,” added who unveiled the iPhone in 2007. There’s something new.” Nvidia’s current position as a supplier of chips for in-demand future products also puts it ahead of competitors, Ives said.

“Overall, we’re going to see some problems in the next six months,” Ives said. “My view is that technology stocks are up 25% this year. I think Nvidia is worth more than $4 trillion alongside Apple.

The story continues