Tech Bull Gene Munster Maintains AI Will Have 'Bigger Impact' On Humanity And Investing Than Internet Even As Nvidia's Market Cap Nosedives Nearly $300B, Dragging Nasdaq By Over 3%
Portfolio Pulse from Ananya Gairola
Gene Munster remains optimistic about AI's long-term impact despite Nvidia's market cap dropping by nearly $300B, affecting the Nasdaq. Nvidia's stock fell after exceeding earnings expectations and receiving a DOJ subpoena.
September 04, 2024 | 7:57 am
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Nvidia's market cap dropped by nearly $300B after a 10% stock price fall, despite exceeding earnings expectations. The decline was exacerbated by a DOJ subpoena for potential antitrust violations.
Nvidia's significant market cap drop and stock price decline, despite strong earnings, indicate negative investor sentiment. The DOJ subpoena adds regulatory pressure, likely impacting short-term stock performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100