Nvidia's Stock Manages To Thrive Amid Volatility Resulting In A Remarkable 119% Rise Year To Date
Portfolio Pulse from Zaheer Anwari
Nvidia's stock has risen 119% year-to-date despite recent volatility and a dip to around $100. Analysts from Bank of America and UBS have endorsed Nvidia as a 'top pick' due to expected growth from increased AI spending. Concerns over potential U.S. export restrictions to China and a delay in launching Blackwell chips have impacted the stock. However, Nvidia is expected to provide a key update in its Q2 earnings report on August 28, which could ease investor concerns. The Fed's upcoming decisions on interest rates are also seen as crucial for Nvidia's stock performance.
August 13, 2024 | 11:24 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Nvidia's stock has risen 119% year-to-date despite recent volatility and a dip to around $100. Analysts from Bank of America and UBS have endorsed Nvidia as a 'top pick' due to expected growth from increased AI spending. Concerns over potential U.S. export restrictions to China and a delay in launching Blackwell chips have impacted the stock. However, Nvidia is expected to provide a key update in its Q2 earnings report on August 28, which could ease investor concerns. The Fed's upcoming decisions on interest rates are also seen as crucial for Nvidia's stock performance.
Nvidia's stock has shown resilience with a 119% rise year-to-date, supported by endorsements from major analysts. The upcoming Q2 earnings report and potential updates on Blackwell chips are crucial for investor sentiment. Additionally, the Fed's decisions on interest rates could positively impact the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100