Fund manager who predicted Nvidia rally sells part of stake, remaining bullish

From Yahoo Finance: 2025-06-28 14:33:00

A veteran fund manager who accurately predicted Nvidia’s stock rally made a surprising move. Nvidia shares hit a record high of $157.75 after rising for five consecutive days. The AI chipmaker reclaimed its position as the most valuable company with a market cap of about $3.85 trillion, surpassing Microsoft and Apple.

Despite facing setbacks due to export restrictions on advanced chips, Nvidia has seen a remarkable 67% gain since early April. CEO Jensen Huang has warned about the negative impact of export controls on U.S. chipmakers and the country’s global technology leadership. Recent developments, including easing U.S.-China trade tensions, have driven Nvidia’s rally.

Nvidia posted strong fiscal first-quarter results, beating Wall Street estimates with adjusted earnings of 96 cents per share and $44.06 billion in revenue. The company guided for $45 billion in revenue for the current quarter, which would have been higher without export curbs to China. The stock’s recent surge was also influenced by signs of improved U.S.-China trade relations.

Chris Versace, a Wall Street veteran fund manager, sold part of his Nvidia stake during the rally, trimming roughly 10% at $154.06. He began buying Nvidia stocks in February 2024 and had predicted the company’s rally earlier this year. Versace remains bullish on Nvidia’s prospects and continues to hold shares to maximize AI and data center returns.

Versace emphasized the importance of disciplined investing and expressed intent to lock in additional gains if Nvidia shares continue to rise. As of now, Nvidia makes up 4.19% of the portfolio. The fund manager’s strategic move reflects a cautious approach to maximize returns in a volatile market.

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