NVIDIA Corporation’s stock price drops to $117, marking a 3.66% decline: Is it time to buy?

NVIDIA Corporation (NVDA)

117.00 USD -4.44 (-3.66%) Volume: 299.45M

NVIDIA Corporation’s stock price stands at 117.00 USD, witnessing a dip of -3.66% this trading session with a trading volume of 299.45M. However, the tech giant’s year-to-date performance remains robust with a surge of +136.26%, reflecting its strong market position and investor confidence.

Latest developments on NVIDIA Corporation

NVIDIA Corp‘s stock price movements today are influenced by a series of events. The company’s CEO, Jensen Huang’s wealth skyrocketed to $108 billion in just five years, while facing criticism for his philanthropy. Nvidia’s market dominance faced challenges as China’s AI chip leader soared 20% amid warnings on Nvidia from Beijing. The cancellation of the development of a dual-rack GPU and the rise of AI chip startup Cerebras filing for IPO added to the mix. Despite facing new competition and a stock price drop of 3.14% on Oct 1, industry leaders gathered at the NVIDIA AI Summit DC to showcase AI’s real-world impact. As investors analyze the situation, analysts remain bullish on NVIDIA Corp‘s strong performance and expansion in the AI market, predicting a $990 billion opportunity. Meanwhile, Nvidia’s venture capital arm quietly invests millions in healthcare, while China urges its companies to avoid Nvidia chips, leading to a slip in Nvidia’s stock price amidst global security concerns.

NVIDIA Corporation on Smartkarma

Analysts on Smartkarma have been closely covering NVIDIA Corp, with insights from various providers such as Baptista Research, Brian Freitas, The Circuit, and William Keating. Baptista Research, known for its bullish lean, recently questioned if NVIDIA’s unstoppable AI growth is about to hit a wall, citing the company’s stellar financial achievements driven by the Data Center segment. On the other hand, Brian Freitas, with a bearish lean, highlighted that NVIDIA is expected to be a big sell according to the market consultation proposals being adopted. The Circuit discussed the impact of mispronunciations of Nvidia on investor credibility and the volatility in its stock after earnings reports. Lastly, William Keating pointed out the red flag of NVIDIA’s significant revenue growth attributed to Singapore, raising questions about the city state’s use of GPUs.

A look at NVIDIA Corporation Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, NVIDIA Corp has a positive long-term outlook. With a high score in Growth, the company is expected to see significant expansion and development in the future. Additionally, its scores in Resilience and Momentum indicate that it is well-positioned to weather any challenges and maintain its current trajectory in the market.

NVIDIA Corp‘s lower scores in Value and Dividend suggest that investors may not find it as attractive from a financial standpoint in terms of value and dividend payouts. However, with strong ratings in Growth, Resilience, and Momentum, the company’s overall outlook remains promising for those looking to invest in a company focused on 3D graphics processors and software for the mainstream personal computer market.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma