Veteran fund manager who predicted Nvidia stock rally makes surprising move

The veteran fund manager who predicted the collection of NVIDIA shares makes a sudden step that originally appeared on Thestreet.

Nafidia ((Nvda)) The shares rose for five consecutive days this week, as they were closed at a record level of $ 157.75 on June 27.

Rally made the most valuable artificial intelligence chips again, with the maximum market of about $ 3.85 trillion, before Microsoft ((Msft)) And Apple ((Aapl)) .

About three months ago, some pessimistic investors thought that NVIDIA shares had reached a dead end because they declined sharply in the midst of total uncertainty and commercial policies. But the stock gained 67 % in its lowest level in early April.

Related: The veteran analyst falls a new bold call on NVIDIA shares

NVIDIA was strongly exposed as the United States has stressed export restrictions on advanced chips in April. The Trump administration said NVIDIA will need an export license to charge H20 processors to China. The H20 chip is designed under Biden management rules.

The Chipmaker maker got a cost of $ 4.5 billion in April quarterly and said it would achieve additional 2.5 billion dollars without restrictions.

Jensen Huang, CEO of NVIDIA, has long warned that export controls could harm American chips and even threaten the country’s position as a global pioneer in technology.

“If we want the American technology staple to win all over the world, giving up 50 % of artificial intelligence researchers in the world is unreasonable,” Huang said recently on CNBC.

Several developments have pushed the NVIDIA gathering since its lowest level in April. The stock first began to recover after the United States and China agreed to temporarily stop the high definitions. Feelings improved more when the Trump administration canceled the base of the spread of artificial intelligence in the Biden era, which was governing another export on advanced artificial intelligence chips.

In May, the stocks obtained another batch of news that NVIDIA would provide AI chips to Humain in the Kingdom of Saudi Arabia, an emerging technical player in the region.

Related: Veteran analyst NVIDIA, prediction Microsoft offers

On May 28, NVIDIA published strong results in the first quarter. The modified profits amounted to 96 cents per share for $ 44.06 billion of revenues, overcoming the estimates of Wall Street of 93 cents and 43.31 billion dollars.

The company has led $ 45 billion in the current quarter, under the expectations of analysts with a few $ 45.9 billion. NVIDIA said this number would have been approximately $ 8 billion without continuous export restrictions to China.

This week’s gathering also helped with signs of mitigating trade tensions between the United States of China. Trade Minister Howard Lootnick Bloomberg has been completed that a trade agreement with China has been completed and signed.