Nvidia Rebounds In Premarket After Thursday's 6%+ Drop: What's Going On?
Portfolio Pulse from Shanthi Rexaline
Nvidia shares rebounded in premarket trading after a 6% drop due to quarterly results and guidance concerns. Despite the dip, analysts remain optimistic, with no downgrades and some increasing price targets. Nvidia's AI dominance and potential upside make it a 'buy' opportunity.
August 30, 2024 | 11:24 am
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Nvidia's stock rebounded 1.5% in premarket after a 6% drop due to quarterly results and guidance concerns. Analysts remain optimistic, with no downgrades and some increasing price targets, viewing the dip as a buying opportunity.
Nvidia's stock experienced a sharp drop due to unmet expectations and guidance concerns. However, the lack of analyst downgrades and some increasing price targets suggest confidence in Nvidia's long-term prospects, particularly in AI. This positive sentiment is likely to support a short-term rebound.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100