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Traders reexamine Nvidia after analyst downgrade

One "Fast Money" trader said he has not lost faith in Nvidia's stock, despite a downgrade from Nomura analysts and a 9 percent tumble on Thursday.

Trader Guy Adami said he likes the graphics chipmaker, because the company is pivoting from gaming to autonomous cars and will become a leader in the space.

Trader Pete Najarian said he prefers Intel, which he says is a competitor in the artificial intelligence and data center arenas that Nvidia is trying to grow into. He said he would buy Nvidia at $90, a level slightly below the stock's Thursday close of $100.49.

Shares of Nvidia have skyrocketed 218 percent in the last 12 months.

Disclosures:

Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.

Brian Kelly is long Bitcoin, SLV

Pete Najarian owns calls: AAL, AMJ, AKS, BVN, BZH, C, CCL, CSCO, CHK, CLF COP, CRM, ETP, GE, GDX, GLD, GILD, IBN, INTC, JBLU, HUM, HMY, KORS, KMB, MT, MTW, ORCL, P, PAA, POT, RIO, SVU, SV, UAL, UNP, WFT, WLL, WY, WLC, GLD, UUP, ZIOP LONG: AAPL, BAC, BLL, DLTR, DIS, EBAY, GILD, GM, HAIN, HD, HUM, IBM, INTC, JWN, K, KMI.A, KO, KORS, LUX, MOS, MSFT, MRK, MRVL, RW, RHT. Puts: PJC

Dan Nathan is long XLV March put spread, SPY May put spread, VIX march call spread