Shares of Nvidia have skyrocketed 190% this year on the optimism surrounding artificial intelligence. But it's 'buyer beware,' Spier tells CNBC Pro Talks.
Renowned value investor Guy Spier doesn't own Nvidia — and he isn't planning to. "Price matters, and it's not always the horse that is the fastest that is best for the person to bet on," he told CNBC Pro Talks last week. Spier says Nvidia is too expensive right now, and he would avoid it. "In investing, we don't want to be in the very, very best because there's no room for growth in a certain way all the low-hanging fruit has been picked.
And buyer beware," Spier added. The only chip stock Spier owns Spier has only one chip stock in his portfolio: Micron , one of the world's largest producers of memory chips. He says it's a consolidating industry with "really just four competitors.
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