Is Nvidia Stock Becoming Too Volatile To Buy? Best-Performing Stock On S&P 500 Tests Investors' Nerves
Portfolio Pulse from Neil Dennis
Nvidia Corporation (NASDAQ:NVDA) experienced significant volatility, with a dramatic 11.2% swing in its stock price in a single session, ending 5.6% lower. This volatility has raised concerns among investors and analysts about the near-term future of NVDA and the semiconductor industry. Cathie Wood of ARK Investment and Jeff Kilberg of KKM Financial expressed concerns about a potential correction. Other semiconductor stocks and the VanEck Semiconductor ETF (NYSE:SMH) also saw declines, with Broadcom Inc. (NASDAQ:AVGO) dropping 7% after its earnings report.
March 11, 2024 | 4:31 pm
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NEGATIVE IMPACT
Broadcom Inc. saw its shares drop 7% following its earnings report, which disappointed investors due to a lack of updated near-term outlook.
Broadcom's 7% drop following its earnings report, due to disappointment over not updating its near-term outlook, suggests a negative short-term impact on AVGO's stock price.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Intel Corp's shares fell 4.6% amid broader semiconductor industry concerns.
Intel's 4.6% drop, in the context of broader semiconductor industry concerns, suggests a negative short-term impact on INTC's stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Nvidia Corporation experienced significant volatility, with a dramatic swing in stock price, raising concerns about its near-term future.
The significant volatility and the closing drop of 5.6% in Nvidia's stock price, coupled with concerns expressed by high-profile investors, are likely to negatively impact investor sentiment and NVDA's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
ON Semiconductor Corp experienced a 4.8% decline in its stock price, aligning with the broader downturn in the semiconductor sector.
The 4.8% decline in ON Semiconductor's stock price, amid broader semiconductor sector concerns, indicates a negative short-term impact on ON's stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The VanEck Semiconductor ETF, with 27% of its holdings in Nvidia, dropped nearly 4% on Friday and was down 1.5% on Monday.
Given SMH's significant exposure to Nvidia, the volatility and decline in NVDA's stock price are likely to have a negative short-term impact on SMH's performance.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 85