What's Going On With Nvidia Stock On Thursday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp (NASDAQ:NVDA) shares are trading lower on Thursday in sympathy with Micron Technology Inc (NASDAQ:MU) after Micron reported its third-quarter financial results and issued guidance. Nvidia's shareholders approved all resolutions, including a 60% increase in CEO Jensen Huang's compensation package for the 2024 fiscal year. Huang credited Nvidia's success in AI chips to a strategic bet over a decade ago. Nvidia aims to create new markets for its AI technology and plans to partner with major computer makers and cloud providers.
June 27, 2024 | 12:49 pm
News sentiment analysis
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NEGATIVE IMPACT
Micron's third-quarter financial results and guidance have led to a negative market reaction, impacting not only its own stock but also Nvidia's. This indicates a broader market sentiment affecting semiconductor stocks.
Micron's financial results and guidance have created a negative sentiment in the semiconductor sector, affecting stocks like Nvidia. This broader market reaction suggests investors are cautious about the sector's near-term prospects.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Nvidia shares are trading lower in sympathy with Micron after Micron's Q3 results. Nvidia's shareholders approved a 60% increase in CEO Jensen Huang's compensation. Nvidia aims to expand its AI technology into new markets and partner with major computer makers and cloud providers.
Nvidia's stock is reacting negatively to Micron's financial results, which suggests a broader market sentiment affecting semiconductor stocks. The approval of a significant increase in CEO compensation and strategic plans for AI market expansion are notable but not enough to offset the immediate negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100