What's Going On With Nvidia Stock Friday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp's stock remained unstable after a two-day slide due to rising Treasury yields and China's retaliatory move against Apple Inc's iPhone. Broader indexes represented by SPDR S&P 500 and Invesco QQQ Trust lost close to 2% this week. Nvidia's former acquisition target Arm Ltd shared ambitious forecasts driven by the demand for chips in data centers and AI. Nvidia also collaborated with Mukesh Ambani's Reliance Industries, marking Reliance Jio Infocomm and Reliance Industries' telecom's foray into AI.
September 08, 2023 | 3:36 pm
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POSITIVE IMPACT
Softbank Group Corp backed chip designer Arm Ltd shared ambitious forecasts.
Softbank Group Corp's backed chip designer Arm Ltd's ambitious forecasts could potentially impact Softbank's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Softbank Group Corp backed chip designer Arm Ltd shared ambitious forecasts.
Softbank Group Corp's backed chip designer Arm Ltd's ambitious forecasts could potentially impact Softbank's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Apple's stock may be affected by China's retaliatory move against its iPhone.
China's retaliatory move against Apple's iPhone could potentially impact Apple's stock in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Nvidia's stock remains unstable due to market conditions and its former acquisition target Arm Ltd's ambitious forecasts.
The instability in Nvidia's stock is due to rising Treasury yields and China's retaliatory move against Apple, which has triggered a selloff in the tech sector. Additionally, Arm Ltd's ambitious forecasts could potentially impact Nvidia's stock as it was their former acquisition target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Invesco QQQ Trust lost close to 2% this week.
The broader market conditions, represented by Invesco QQQ Trust, have been negative this week, losing close to 2%.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
SPDR S&P 500 lost close to 2% this week.
The broader market conditions, represented by SPDR S&P 500, have been negative this week, losing close to 2%.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50