What's Going On With Nvidia Stock Friday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp (NVDA) has announced the launch of the GeForce RTX 4090 D, a modified gaming chip designed to comply with U.S. export controls for the Chinese market. The chip will be available in January and is 5% slower than the banned RTX 4090, priced at 12,999 yuan ($1,842). Nvidia dominates China's AI chip market but faces competition from domestic firms due to U.S. export curbs. NVDA stock has outperformed the Invesco QQQ Trust, Series 1 (QQQ) year-to-date.
December 29, 2023 | 1:20 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Nvidia's performance has significantly outpaced the broader technology index represented by QQQ, with NVDA gaining 246% compared to QQQ's 56% year-to-date.
While NVDA's specific performance is highlighted, the impact on QQQ is neutral in the short term as it is a broader technology index and Nvidia's individual performance may not significantly sway the overall index.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Nvidia's launch of the GeForce RTX 4090 D could boost its position in the Chinese market despite U.S. export restrictions. The stock has performed well, gaining 246% year-to-date.
The launch of a new product tailored to comply with export controls could strengthen Nvidia's market share in China and maintain its competitive edge, likely having a positive short-term impact on NVDA's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90