Chip maker NVIDIA (NVDA) has enjoyed the cryptocurrency wave over the last couple of years, but its fate does lay heavily with a positive outcome to the current U.S./China trade negotiations. NVIDIA gets around 19% of its total sales from China, so there is a real reason for alarm should the two countries decide not to play nice, and a true trade war does develop. The stock is currently trading just shy of its all-time high, although it did run into a very small amount of selling pressure after its most recent quarterly report when investors saw a possible easing of demand from the crypto market. Enthusiasm quickly returned to the stock, and with trade concerns easing, the stock is likely to continue building on its recent gains. NVDA trades at $256.18 with an average price target of $251.45.
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