5 Blue Chip Stocks to Buy That Are Down Over 30% YTD

In this article, we discuss 5 blue chip stocks to buy that are down over 30% YTD. If you want to see more blue chip stocks to buy that are down over 30% YTD, the risk/reward, and methodology of this list, go directly to 12 Blue Chip Stocks to Buy That Are Down Over 30% YTD.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 89

Year to Date Performance as of 12/26: -48.30%

NVIDIA Corporation (NASDAQ:NVDA) is a leader in GPUs that should benefit from the increasing demand for AI processing in the future if GPUs manage to continue to be better at some processing than CPUs for certain AI tasks.

Given the rising inflation this year, however, GPU end markets have been weaker than expected and demand for NVIDIA Corporation (NASDAQ:NVDA) hasn’t met estimates. As a result, the stock is down 48.30% year to date.

Although the stock still has a forward P/E ratio of 35.3, NVIDIA Corporation (NASDAQ:NVDA) does have substantial EPS growth potential past next year if it keeps up its technological innovation.

89 hedge funds in our database owned shares of the stock at the end of September, ranking NVIDIA Corporation (NASDAQ:NVDA) #5 on our list of 12 Blue Chip Stocks to Buy That Are Down Over 30% YTD.