Bernstein Keeps Nvidia as a Must-Own Stock After Tech Sell-Off

Bernstein maintained Nvidia's "must-own" status despite the volatility that swept through the technology sector recently. Analysts point out that structural demand for Nvidia's accelerators from cloud giants, startups, and government clients has not diminished and continues to grow. The sell-off, in their view, is short-term in nature and driven by macroeconomic concerns rather than any fundamental problems at the company. Bernstein stresses that Nvidia's position in the AI capital expenditure cycle is unique, as alternatives to its chips remain limited. Investors are advised to use dips to add to positions with a horizon of at least 12 months.