A 3.6% pullback in NVIDIA is hardly unusual after its massive run. The key question is whether the investment thesis has changed. So far, AI infrastructure spending remains strong, hyperscalers continue investing aggressively, and TSMC's demand commentary suggests the underlying trend is intact.

That said, I would not rush to chase every dip. Geopolitical tensions can create further volatility, and semiconductor stocks have become crowded trades. A deeper correction of 10-15% would offer a more attractive risk-reward profile than a routine 3-4% pullback.

For long-term investors, gradual accumulation still makes sense. For those with limited cash, patience may be rewarded given stretched valuations and elevated market expectations. The AI compute story remains compelling, but sentiment can move much faster than fundamentals in either direction.

My approach: hold existing positions, add selectively on larger weakness, and avoid going all-in after a single red day.