NVIDIA Corporation’s Stock Price Plummets to $108.00, Marking a Sharp 9.52% Decline

NVIDIA Corporation (NVDA)

108.00 USD -11.37 (-9.52%) Volume: 470.35M

NVIDIA Corporation’s stock price stands at 108.00 USD, experiencing a 9.52% decrease this trading session with a trading volume of 470.35M, yet boasting a remarkable YTD increase of 118.08%, highlighting the tech giant’s strong market performance.

Latest developments on NVIDIA Corporation

NVIDIA Corp faced a tumultuous day as its stock price tumbled almost 10%, hitting its lowest level since mid-August. The company received a subpoena from the US Department of Justice in an escalating antitrust investigation, leading to a major sell-off in semiconductor stocks. Despite this setback, CEO Jensen Huang aims to expand NVIDIA’s offerings beyond chips to become a one-stop shop for data center clients. Analysts had predicted a decline in NVIDIA’s stock before its Q2 update, but opinions are now mixed. The market volatility continues as the tech sector grapples with concerns over AI and revenue challenges. Despite these challenges, some analysts remain bullish on NVIDIA’s AI capabilities and future prospects.

NVIDIA Corporation on Smartkarma

Analysts on Smartkarma are closely following NVIDIA Corp, with differing opinions on the company’s future. Brian Freitas suggests that changes in index weighting methodology will result in a round-trip trade of US$35bn, with Microsoft and NVIDIA being sold off. On the other hand, William Keating raises concerns about NVIDIA’s >5x YoY revenue growth in Singapore, labeling it as a red flag. Despite this, Uttkarsh Kohli highlights NVIDIA’s stunning Q2 results and the declaration of a $50B buyback, although shares plunged 8% post-results due to decelerating growth.

Furthermore, Jesus Rodriguez Aguilar points out that all eyes are on NVIDIA as they release their second-quarter figures, with the stock having returned 155% YTD. Conversely, Douglas O’Laughlin takes a bearish stance in his earnings preview, discussing the upcoming AI semiconductor trade and the potential volatility at NVIDIA. These varying perspectives provide investors with a comprehensive view of the opportunities and risks associated with investing in NVIDIA Corp.

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 promising long-term outlook. With high scores in Growth and Momentum, the company is showing strong potential for future expansion and market performance. Its products cater to the mainstream personal computer market, providing interactive 3D graphics.

Although NVIDIA Corp has average scores in Value and Dividend, it excels in Resilience, indicating a strong ability to withstand economic downturns and market fluctuations. Overall, the company’s high scores in Growth and Momentum suggest a positive trajectory for its future development and market position in the 3D graphics industry.

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.
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