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The Nvidia (NVDA) CES induced sell-off attack plan.

At the glitzy tech gathering this Monday, Nvidia CEO Jensen Huang shared that the company has kicked production of its much-anticipated Blackwell chip into high gear. “We’re racing to get Blackwells into every data center in the world,” he told a packed house while sporting a black shiny alligator leather jacket. 

The company also unveiled a host of new technology to support its growing ambitions in robotics and driverless cars, reports Yahoo Finance tech editor Daniel Howley.

But the Street wanted more from its stock darling.

Read More: why AMD looks undervalued

Huang’s more subdued words relative to elevated expectations combined with general investor skittishness sent Nvidia in a tailspin — with bears sending the stock down 6% on Tuesday despite hitting a record high a day prior. 

The stock is now off by 8% from those aforementioned highs.

Wedbush tech analyst Dan Ives was in the room when Huang spoke at CES and thinks the sell-off is way overdone. 

“I think what Jensen’s laying out is this is early days [in AI]... It is just the beginning of the revolution but [the selloff fear] was investors [getting] worried," Ives told Yahoo Finance executive editor Brian Sozzi on the Opening Bid podcast (video above; listen in below).

Continued Ives, “We could go back to quarters where the stock sells off, bears come out of hibernation mode, stock goes to $100, then all of a sudden, two months later, back up to all-time highs. These knee-jerk reactions, it’s easy to get scared by them because they don’t say anything about near-term demand.”

"The reality is you come out of that more bullish rather than less bullish because of what the market opportunity means in terms of robotics, autonomous, and the future,” he said.

From Ives’ perspective, the future for Nvidia and AI looks bright. In one analogy, he placed more traditional investments such as healthcare or finance in the bucket akin to a “minivan going 40 miles per hour” while tech stocks such as Nvidia were a “Ferrari in the left lane.”

Comparing excitement around Nvidia to the buzz CES once saw when Apple (AAPL) cofounder Steve Jobs unveiled the iPhone in 2007, he added, “there’s something different. There’s something new.” Nvidia’s current position as a chip provider for future in-demand products also puts it ahead of competitors, said Ives.

“Broadly, we’re going to see some white knuckles in the next six months,” said Ives. “My view is tech stocks are up 25% this year. I think Nvidia is well over $4 trillion along with Apple.”

Others on the Street have stayed with Nvidia as a bull story post CES as well. 

"Nvidia is a top AI pick on continued hardware and software leadership," BofA semiconductor analyst Vivek Arya said in a client note.

According to Yahoo Finance data, 93% of Wall Street analysts rate Nvidia shares at either strong buy or buy. The average price target is $173, or 24% above current levels.

Three times each week, Yahoo Finance Executive Editor Brian Sozzi fields insight-filled conversations and chats with the biggest names in business and markets on Opening Bid. You can find more episodes on our video hub or watch on your preferred streaming service.

Grace Williams is a writer for Yahoo Finance.

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