What's Going On With Nvidia Stock Friday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp (NVDA) stock traded lower on Friday, in line with broader indexes SPDR S&P 500 (SPY) and Invesco QQQ Trust, Series 1 (QQQ). The drop is attributed to a drag from big technology and growth stocks, as evidence of a resilient U.S. economy flared fears of interest rates staying higher for longer. Despite this, Nvidia continues to attract analyst confidence ahead of its quarterly results, with Wedbush analyst Matt Bryson reiterating an Outperform rating and a $490 price target.
August 18, 2023 | 2:50 pm
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NEGATIVE IMPACT
Nvidia's stock traded lower due to broader market trends, but continues to attract analyst confidence.
Nvidia's stock price is likely to be negatively impacted in the short term due to broader market trends. However, the company continues to attract analyst confidence, which could mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Invesco QQQ Trust, Series 1 (QQQ) traded lower on Friday, in line with broader market trends.
Invesco QQQ Trust's stock price is likely to be negatively impacted in the short term due to broader market trends.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
SPDR S&P 500 (SPY) traded lower on Friday, in line with broader market trends.
SPDR S&P 500's stock price is likely to be negatively impacted in the short term due to broader market trends.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50