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No 'straight ride up' for Nvidia -portfolio manager

STORY: Shares of Nvidia were up over 5% on Tuesday, poised to snap a three-session tailspin that had erased about $430 billion from the artificial intelligence chipmaker's market value.

"So if you think about a stock, how you value it, you take the valuation and then you take the fundamentals," said Cipolloni. "If the valuations get too far outstretched, you can have a 10 or 20 or 25% decline pretty easily."

"If Nvidia comes out next quarter and posts great earnings, then the fundamentals should be able to justify where it is today," he added. "But it will not be a straight ride up."