What's Going On With Nvidia, Semiconductor Peers Monday?
Portfolio Pulse from Anusuya Lahiri
Nvidia (NVDA) and Advanced Micro Devices (AMD) are trading lower due to regulatory scrutiny and market dynamics. Nvidia faces antitrust charges from French regulators, while Morgan Stanley analyst Joseph Moore remains optimistic about Nvidia's near-term prospects, raising the price target from $116 to $144.
July 01, 2024 | 5:16 pm
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NEUTRAL IMPACT
Nvidia faces antitrust charges from French regulators, marking the first such enforcement against the company. Despite this, Morgan Stanley analyst Joseph Moore remains optimistic, raising the price target from $116 to $144.
The antitrust charges from French regulators could negatively impact Nvidia's stock in the short term. However, the positive outlook from Morgan Stanley, including a raised price target, provides a counterbalance, leading to a neutral overall impact.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
AMD shares are trading lower by 3.78%, likely influenced by the broader market dynamics affecting semiconductor stocks, including Nvidia's regulatory issues.
AMD's stock is likely affected by the negative sentiment surrounding Nvidia's regulatory issues and the overall market dynamics in the semiconductor sector, leading to a short-term negative impact.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 50