What's Going On With Nvidia Stock Wednesday
Portfolio Pulse from Anusuya Lahiri
Nvidia stock is trading lower along with peers AMD, Qualcomm, and others due to Fed Chair Powell's comments on inflationary pressures and rate hikes, weak guidance from FedEx, and a tech stock selloff. Analysts have mixed opinions on Nvidia, with some highlighting downside risks and others praising its AI dominance and significant orders from Chinese internet companies.
June 21, 2023 | 4:03 pm
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NEUTRAL IMPACT
Nvidia has bagged significant orders from major Chinese internet companies, including Alibaba, for its cloud computing businesses.
Nvidia's significant orders from major Chinese internet companies, including Alibaba, for their cloud computing businesses may have a neutral short-term impact on Alibaba's stock, as it is not the main focus of the news and the overall market conditions are affecting tech stocks negatively.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 40
NEGATIVE IMPACT
AMD stock is trading lower along with Nvidia and other peers due to inflation concerns, rate hikes, and a tech stock selloff. Morgan Stanley analyst Joseph Moore moved Nvidia to Top Pick over AMD.
AMD's stock is trading lower along with Nvidia and other peers due to external factors such as inflation concerns and rate hikes, as well as a tech stock selloff. Additionally, Morgan Stanley analyst Joseph Moore moved Nvidia to Top Pick over AMD, which may contribute to the negative short-term impact on AMD's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Nvidia stock is trading lower due to inflation concerns, rate hikes, and tech selloff. Analysts have mixed opinions on the company's future, with some highlighting downside risks and others praising its AI dominance and significant orders from Chinese internet companies.
Nvidia's stock is trading lower due to external factors such as inflation concerns and rate hikes, as well as a tech stock selloff. Additionally, mixed analyst opinions on the company's future, with some highlighting downside risks and others praising its AI dominance and significant orders from Chinese internet companies, contribute to the negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Qualcomm stock is trading lower along with Nvidia and other peers due to inflation concerns, rate hikes, and a tech stock selloff.
Qualcomm's stock is trading lower along with Nvidia and other peers due to external factors such as inflation concerns and rate hikes, as well as a tech stock selloff. These factors contribute to the negative short-term impact on Qualcomm's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60