What's Going On With Nvidia Stock On Tuesday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp (NASDAQ:NVDA) continues its rally in 2024, with a 167% YTD surge. Despite this, DNB Asset Management trimmed its Nvidia holdings while increasing stakes in Apple Inc (NASDAQ:AAPL), Tesla Inc (NASDAQ:TSLA), and Intel Corp (NASDAQ:INTC). Nvidia faces a French competition authority investigation and skepticism from NYU Professor Aswath Damodoran. Investors can gain exposure to Nvidia through Vanguard Information Tech ETF (NYSE:VGT) and iShares S&P 500 Growth ETF (NYSE:IVW).
July 16, 2024 | 11:57 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Nvidia continues its strong performance in 2024 with a 167% YTD surge. However, DNB Asset Management trimmed its holdings, and Nvidia faces a French competition authority investigation and skepticism from NYU Professor Aswath Damodoran.
While Nvidia's stock has surged significantly, the trimming of holdings by DNB Asset Management and the ongoing French competition investigation could create uncertainty. Additionally, skepticism from a notable academic adds to the mixed sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
DNB Asset Management increased its holdings in Apple Inc despite the stock's recent underperformance.
The increase in holdings by a significant asset manager like DNB could signal confidence in Apple's future performance, potentially leading to a positive short-term impact on the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
DNB Asset Management more than doubled its stake in Intel Corp.
The significant increase in holdings by DNB Asset Management could indicate strong confidence in Intel's future prospects, likely leading to a positive short-term impact on the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Nvidia through iShares S&P 500 Growth ETF.
As Nvidia continues to perform well, ETFs like IVW that hold Nvidia shares could see positive inflows and performance.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
DNB Asset Management increased its holdings in Tesla Inc despite the stock's recent underperformance.
The increase in holdings by a significant asset manager like DNB could signal confidence in Tesla's future performance, potentially leading to a positive short-term impact on the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Nvidia through Vanguard Information Tech ETF.
As Nvidia continues to perform well, ETFs like VGT that hold Nvidia shares could see positive inflows and performance.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30