Nvidia shares dip; mostly recovered from Trump tariff slump

Shares of Nvidia NVDA.O down 0.4% on Monday in relatively quiet trading following a whipsaw slump and rebound caused by President Donald Trump's on-again off-again global tariffs and trade war with China

Even with its latest dip, NVDA has mostly recovered from a drop of almost 22% to its intraday low on April 7, just before Trump hit pause on hefty tariffs he had just imposed on dozens of countries

On Monday, NVDA said it plans to build AI servers worth up to $500 billion in U.S. over next 4 years

Move aligns NVDA with tech firms backing U.S. manufacturing amid tariff threats from Trump admin

NVDA's stock down 18% YTD, underperforming Nasdaq .IXIC, which is down 13%

NVDA stock about 28% below 52-week intraday high of $153.13 reached on January 7

Stock recently at 23x expected earnings, suggests undervaluation vs avg forward PE of 40 over past 5 years, per LSEG data