What's Going On With Nvidia and AMD Stocks Friday?
Portfolio Pulse from Anusuya Lahiri
Nvidia (NVDA) and AMD (AMD) stocks are trading lower after Bill Baruch of Blue Creek Capital and Joshua Brown of Ritholtz Wealth Management reduced their exposure to these semiconductor stocks. Brown, who maintains a core position in Nvidia, sold AMD shares, considering it overbought. Stephen Weiss of Short Hills Capital Partners favors Taiwan Semiconductor (TSM) over Nvidia and AMD, citing TSM's pricing power. Nvidia's stock has risen due to its AI chip industry position, with a $1 trillion opportunity in AI. AMD shares traded slightly lower at $179.94.
January 26, 2024 | 4:26 pm
News sentiment analysis
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NEGATIVE IMPACT
AMD's stock is trading lower as Joshua Brown of Ritholtz Wealth Management sold shares, considering it overbought based on its RSI, with intentions to rebuy at a lower price.
The short-term impact is negative due to the sale by a significant investor and the perception of being overbought. The potential to rebuy at lower prices suggests a temporary dip.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 80
NEGATIVE IMPACT
Nvidia's stock is trading lower after fund managers reduced their holdings, despite its strong position in the AI chip industry and significant year-to-date gains.
The short-term impact is negative due to the reported sell-off by prominent investors, which may influence market sentiment. However, Nvidia's strong position in AI provides a positive long-term outlook.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
TSM is favored by Stephen Weiss of Short Hills Capital Partners over NVDA and AMD due to its pricing power and lack of threat from China, indicating potential short-term stability or growth.
The positive sentiment from a notable investment officer about TSM's advantages could lead to increased investor interest and a short-term positive impact on the stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70