Why Nvidia Is This Investor's Highest Conviction Play Right Now

Newly appointed Defiance ETFs CEO Sylvia Jablonski says the market may be nearing a bottom. She sees several buying opportunities amid the market correction, but none more obvious than NVIDIA Corp NVDA.

"My highest level of conviction is really in the semiconductor space right now for a few reasons," Jablonski said Monday on CNBC's "Squawk Box."

She highlighted the growth prospects of cryptocurrencies and the Web3 space, noting that $30 million in venture capital money entered the space last year. 

"I think investors are ... looking for opportunities to get into these companies that have really positive growth potential in the future so I do think there's some great spots in here and it's time to kind of put money to work," Jablonski said.

5G is crucial to the roll out of decentralized data platforms, she said: "In order to have 5G, you need semiconductors like Nvidia."

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Semiconductors will be part of everything from Web3 to electric vehicles and Nvidia is leading the way, Jablonski said, highlighting Nvidia's 50% compound annual revenue growth rate. 

"I just really think that at these levels, they are good places to get in to really participate in 5G and the future of disruptive technology," she said. 

NVDA Price Action: Nvidia has traded between $122.72 and $346.47 over a 52-week period.

The stock was down 0.19% at $264.02 Monday morning. 

Photo: courtesy of Nvidia.