What's Going On With Nvidia Stock Monday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp's stock is trading higher amid reports that EU antitrust regulators have not formally investigated chips used for AI. This comes after the French competition authority raided Nvidia for alleged anti-competitive practices. Meanwhile, PC hardware stores in Tokyo have raised concerns over a potential crisis of Nvidia GeForce RTX 40 series graphics cards. In the U.S., retailers like Amazon and Newegg Commerce currently have a significant stock of GeForce RTX 4090 models. Goldman Sachs analyst Steven Kron added Nvidia to the bank's 'Americas Conviction List' with a price target of $605.
October 02, 2023 | 2:19 pm
News sentiment analysis
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NEUTRAL IMPACT
Amazon currently has a significant stock of GeForce RTX 4090 models.
While Amazon's stock of GeForce RTX 4090 models is noteworthy, it's unlikely to have a significant impact on Amazon's overall stock price in the short term.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Newegg Commerce currently has a significant stock of GeForce RTX 4090 models.
While Newegg Commerce's stock of GeForce RTX 4090 models is noteworthy, it's unlikely to have a significant impact on Newegg Commerce's overall stock price in the short term.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Nvidia's stock is trading higher amid reports of no formal EU investigation into AI chips. Tokyo stores flag potential GeForce RTX 40 crisis. Goldman Sachs adds Nvidia to 'Americas Conviction List' with a price target of $605.
The news of no formal EU investigation into Nvidia's AI chips, coupled with the addition of Nvidia to Goldman Sachs' 'Americas Conviction List', is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100