Did Nvidia Fever Break? 'Monday Could Be A Rude Awakening,' Says Portfolio Manager
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp. (NASDAQ:NVDA) shares fell 5.55% on Friday, ending a six-session winning streak. Portfolio manager Jeff Kilburg warned of potential further downside, noting a significant market cap loss and a technical gap down to $625. Despite this, most tech analysts remain bullish on Nvidia, especially due to its dominant position in the AI market.
March 09, 2024 | 6:15 pm
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NEGATIVE IMPACT
Nvidia's stock fell 5.55% on Friday, with further downside potential indicated by portfolio manager Jeff Kilburg. Despite this, the company's strong position in the AI market keeps analysts optimistic.
The immediate negative impact on NVDA's stock price is due to the recent drop and the portfolio manager's warning of further downside. However, the long-term outlook remains positive due to Nvidia's strong position in the AI market, as noted by analysts.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100