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Nvidia Stock Plunge Amid Global Market Uncertainty
2024-09-05 09:00:08
Stocks
Markets
Technology

Nvidia Stock Plunge Amid Global Market Uncertainty

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Nvidia's stock plummeted by 14% despite positive numbers, reflecting a broader downturn in US exchanges. Analysts attribute the drop to concerns over slowing revenue growth and a potential overvaluation of AI stocks.

The semiconductor industry, including Nvidia, faces pressure amidst antitrust probes and production challenges. However, long-term prospects remain positive, driven by the shift towards AI-enabled devices and data centers.

Amid fears of a US recession and global market instability, Nvidia's outlook is mixed. Analysts anticipate a rebound in Nvidia stock, but caution that key support levels must hold to avoid further losses.

Related news on that topic:

Nvidia's Stock Plunge and Gloomy Sentiment in US Stock Exchanges

Nvidia's stock has fallen by 14% despite good numbers, reflecting the overall weak sentiment in US stock exchanges. There is hope for an interest rate cut due to a labor market report, but the semiconductor industry is under pressure. Concerns about the overvaluation of AI stocks have also contributed to the decline. However, analysts expect an increase in Nvidia's stock, especially with the release of the new generation of 'Blackwell' chips. The AI sector as a whole has suffered, with $279 billion in market value lost and an antitrust probe initiated. The market's fear gauge, VIX, has soared. The recent decline in stocks is attributed to AI trade concerns, recession fears, and economic growth worries. Nvidia's sudden market value loss, the largest in history, has raised doubts about AI stocks' high valuations. The US Justice Department has reportedly subpoenaed Nvidia as part of an antitrust investigation.

Economic Concerns - US Technology Index Nasdaq Plunges, Nvidia ... Ten Percent

The global stock market experienced a significant sell-off as concerns about the economy and weak manufacturing data weighed on investor sentiment. The Nasdaq 100 index fell by 3.15%, with Nvidia and Intel being the biggest losers. Other major indices such as the Dow Jones, Dax, Nikkei 225, and Topix also recorded losses. Nvidia's market value plummeted by around $280 billion in a single day, marking the largest ever valuation wipeout for a US company. The sell-off was driven by fears of a potential recession in the United States and doubts about the profitability of AI investments. Investors are also anxiously awaiting quarterly earnings reports from companies like Hewlett Packard Enterprise and Home24, as well as interest rate cuts by the US Federal Reserve and the European Central Bank in September. The market volatility is expected to continue, with the upcoming jobs report influencing the size of the expected interest rate cut by the Federal Reserve.

Read 9 more recent news on this topic

The press radar on this topic:

The Street
8. September 2024 um 12:04

Veteran fund manager unveils startling Nvidia stock forecast TheStreet Daily Newsletter

Finance
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Nvidia, the AI powerhouse, faces slowing growth and valuation concerns. Its Q3 revenue guidance shows a slowdown, and its stock price is trading 10% below its June peak despite the S&P 500 reaching new highs. Concerns include supply-demand imbalance, AI adoption pace, and production challenges. Nvidia's profit margins have peaked, and the success of its Blackwell chips is crucial to justify its valuation, which has a trailing P/E of 74 and a forward P/E of 43. However, Nvidia's Q2 results showed..
Yahoo Finance
4. September 2024 um 21:49

Stocks Tumble Most Since August Rout, Oil Slips: Markets Wrap

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Asian stocks tumbled, with chipmakers hit by AI concerns, tracking a US selloff led by Nvidia's plunge after antitrust probes. Weak US data raised recession fears ahead of the jobs report that could guide the Fed's rate cut path. The market's "fear gauge" VIX soared, while the yen carry trade unwinding exacerbated the risk-off mood. Australia's economic weakness persisted, and Chinese services activity expanded less than expected. Treasury yields steadied, and a dollar gauge snapped a five-day..
The Street
6. September 2024 um 11:05

Nvidia stock extends $280 billion slump after DoJ probe report TheStreet Daily Newsletter

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Nvidia shares plummet after DoJ antitrust probe; chipmaker faces allegations of restricting customer choice and penalizing switching. Nvidia's April RunAI acquisition also under investigation. Nvidia's key role in AI spending and delays in new Blackwell processors add to concerns. Blackwell ramp likely to impact Nvidia's profit margins. Wedbush analyst remains bullish, sees AI demand surge. Nvidia has lost $680 billion in value since June peak.
Frankfurter Rundschau
4. September 2024 um 13:43

Nvidia stock falls by 14 percent - Gloomy sentiment on US stock exchanges

Finance
Technology
Economy
Nvidia stock falls by 14% despite good numbers; US stock exchanges weak; Hope for interest rate cut due to labor market report; Semiconductor industry under pressure; Concern about overvaluation of AI stocks; Nvidia stock had recovered in August; Analysts expect an increase in Nvidia stock
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