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Nvidia Stock Roars Back as Chips Lead Tech Rebound
• Nvidia (NVDA) shares surged over 6% on Thursday
• Rally came as chip stocks led a broad tech sector rebound
• Follows several days of selling on economic slowdown fears
Despite Bounce, Nvidia Still Battered:
• Stock down around 25% from June peak
• Has lost over $750B in market cap on AI trade cool-off worries
• Recession concerns have been weighing on semiconductor space
Bull Case Reemerges:
• Thursday's chip rally suggests dip-buyers see value in beaten-down names
• Analysts reiterate buying Nvidia for its long-term AI growth runway
• Some traders viewing pullback as opportunity in semiconductor leaders
What's Next?
• Rebound could be bear market rally or new sustained uptrend
• Need to see if economic picture improves for semiconductor rally to endure
• For now, chip bulls regaining control after relentless weeks of selling
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