Nvidia (NVDA) may have dropped because of its stock split and because it’s so widely held, former Goldman Sachs VP Kevin Hincks said on Schwab Network yesterday.

However, there are “no cracks” in the demand for the chip maker’s products, as the demand for its offerings remains “crazy,” said Hincks, who now works for the network.

The Stock Split, the Market’s Downturn and Worries about Competition Hurt NVDA, Said Hincks

“Nvidia is so widely held that it bears the brunt of whatever happens in the market,” the veteran trader said. Further, some investors may have sold the name in the wake of its stock split, while fears about its intensifying competition could have dented the shares, Hincks stated.

Powerful Demand and a Potential Huge Move

“There are no cracks in the demand story for NVDA” and its peers, and “everyone is confirming that demand is crazy,” the former Goldman VP said enthusiastically.

Moreover, NVDA could adapt its products, which are currently used primarily by large cloud-infrastructure providers, in order to enable the “general public” to use them, he theorized.

He added that NVDA CEO Jensen Huang is “a really smart guy and good at what he does,” while no one is really bearish on NVDA’s fundamentals.

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Disclosure: None. This article is originally published at Insider Monkey.