NVIDIA Corporation ($NVDA) Stock Forecast: Down 5.2% Today

What is NVIDIA Corporation?

Nvidia Corporation (NVDA) is a leading technology company known for its graphics processing units (GPUs) used in gaming, professional visualization, data centers, and automotive markets. The stock had a bearish movement today in the market.

Why is NVIDIA Corporation going down?

NVDA stock is down 5.2% on Oct 31, 2024 15:52

• Factors such as Samsung's strong performance in the chip division and advancements in high-bandwidth memory technology by SK Hynix and Micron may have put pressure on Nvidia's market position, leading to the bearish movement.
• Optimistic outlook by AMD in the AI computing market and Meta Platforms' development of the Llama 4 AI model using Nvidia GPUs could have highlighted increased competition for Nvidia, impacting its stock negatively.
• The upcoming conference call by Nvidia to discuss its financial results for the third quarter of fiscal year 2025 might have created uncertainty among investors, contributing to the bearish trend in the stock price.
• In conclusion, the bearish movement in Nvidia's stock can be attributed to a combination of competitive pressures, advancements by rival companies, and upcoming financial discussions.

NVDA Price Chart

NVDA Technical Analysis

NVDA News

Samsung Profits Soar, But Company's Nvidia AI Chip Race Lag Allows SK Hynix, Micron To Take The Lead In High-Bandwidth Memory - Micron Technology ( NASDAQ:MU ) , SK Hynix ( OTC:HXSCF )

Samsung Electronics SSNLF, South Korea's largest company, reported a net income of 9.78 trillion won ( $7.1 billion ) for the September quarter, with its chip division earning 3.86 trillion won ( $2.8 billion ) in operating profit.

https://www.benzinga.com/markets/asia/24/10/41645191/samsung-profits-soar-but-companys-nvidia-ai-chip-race-lag-allows-sk-hynix-micron-to-take-the-lead-in

AMD CEO Lisa Su: No 'One Size Fits All' In $500B AI Computing Future - Meta Platforms ( NASDAQ:META )

Lisa Su, CEO of Advanced Micro Devices Inc. AMD, provided an optimistic outlook for the company's position in the burgeoning artificial intelligence market.

https://www.benzinga.com/markets/equities/24/10/41643612/amd-ceo-lisa-su-no-one-size-fits-all-in-500b-ai-computing-future

Mark Zuckerberg Says Meta's Open-Source Gambit Is Paying Off As Nvidia And AMD Optimize For Llama: 'A Big Deal On Several Fronts' - Meta Platforms ( NASDAQ:META ) , Advanced Micro Devices ( NASDAQ:AMD )

Meta Platforms Inc META CEO Mark Zuckerberg revealed during the company's third quarter 2024 earnings call that Meta is developing its next-generation AI model, Llama 4, using what he described as an unprecedented computing infrastructure of more than 100,000 NVIDIA Corp NVDA H100 GPUs.

https://www.benzinga.com/markets/equities/24/10/41643021/mark-zuckerberg-says-metas-open-source-gambit-is-paying-off-as-nvidia-and-amd-optimize-for-llama

Nvidia ( NVDA ) Declines More Than Market: Some Information for Investors

Nvidia (NVDA) concluded the recent trading session at $139.34, signifying a -1.36% move from its prior day's close.

https://www.zacks.com/stock/news/2361102/nvidia-nvda-declines-more-than-market-some-information-for-investors

NVIDIA Sets Conference Call for Third-Quarter Financial Results - NVIDIA ( NASDAQ:NVDA )

SANTA CLARA, Calif., Oct. 30, 2024 ( GLOBE NEWSWIRE ) -- NVIDIA will host a conference call on Wednesday, November 20, at 2 p.m. PT ( 5 p.m. ET ) to discuss its financial results for the third quarter of fiscal year 2025, which ended October 27, 2024.

https://www.benzinga.com/pressreleases/24/10/g41638573/nvidia-sets-conference-call-for-third-quarter-financial-results

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NVIDIA Corporation Price History

25.08.2024 - NVDA Stock was up 5.2%

• Participation in Alibaba's Apsara Conference and collaboration with Hitachi Rail to integrate AI technology showcase the company's continuous efforts to expand its presence in various sectors and enhance its technological capabilities.
• Microsoft's significant investment in boosting AI skills and infrastructure in Mexico may have positively influenced investor sentiment towards tech companies like Nvidia, indicating a growing interest and support for AI-related initiatives.
• The news about Vistra surpassing Nvidia as the S&P 500's top stock could have led to increased investor attention on Nvidia, potentially driving up the stock price as investors reevaluate their investment choices within the tech sector.
• Overall, the bullish movement in Nvidia's stock today could be attributed to a combination of positive industry developments, strategic partnerships, and shifting investor focus towards AI and tech companies.

12.08.2024 - NVDA Stock was up 7.1%

• NVDA stock surged over 8% on Wednesday.
• Speculation surrounding Nvidia AI chips potentially being utilized in Saudi Arabia may have influenced investor confidence in the company's growth prospects.
• Jensen Huang's positive comments on Nvidia's AI advancements likely played a part in the stock's upward trend.
• The notable bullish movement in NVDA stock today can be attributed to a combination of positive developments related to Nvidia's expansion and the overall strong performance of the market and tech sector.

24.08.2024 - NVDA Stock was up 5.0%

• NVIDIA's partnership with Alibaba to advance AI and autonomous driving likely contributed to the positive momentum in the stock.
• Collaboration with ANSYS, Taiwan Semiconductor, and Microsoft to enhance chip simulations could have also boosted investor confidence in NVDA.
• The CEO's emphasis on the potential of AI in reshaping technology and the overall positive sentiment towards Bitcoin-centric stocks might have further supported NVDA's bullish movement.
• The intrigue surrounding NVDA's recent news and the overall market optimism could have led to increased investor interest and contributed to the stock's upward trend.

15.09.2024 - NVDA Stock was down 5.1%

• The bearish movement in NVDA stock could be attributed to the unexpected early release of ASML's third-quarter earnings, causing a ripple effect in the semiconductor industry.
• NVIDIA's contribution of its Blackwell platform design to the open hardware ecosystem may have raised concerns among investors about potential competition and market saturation in the AI infrastructure space.
• Amazon's deal with Databricks to cut AI costs by 40% could have sparked fears of increased competition for NVIDIA in the AI market, leading to a sell-off of NVDA shares.
• Despite the positive sentiment from Nvidia CEO Jensen Huang about OpenAI, the overall market reaction to the news may have been overshadowed by broader industry developments and competitive pressures.

11.08.2024 - NVDA Stock was up 5.1%

• NVDA shares closed higher, showcasing a continuation of positive momentum from prior trading sessions.
• Market focus on insider trades did not have a detrimental impact on NVDA, with investors maintaining confidence in the company's potential.
• The stock's bullish trajectory amidst market fluctuations could be linked to the overall favorable sentiment towards tech equities and NVDA's ability to navigate challenges effectively.
• NVDA's bullish trend might also be influenced by broader market optimism, reflected in the upbeat performance of the Nasdaq 100 index and other tech companies like Oracle, which surpassed earnings projections.

11.08.2024 - NVDA Stock was up 7.3%

• NVDA stock gained momentum following a 3.5% increase on Monday, rebounding from a 14% decline the previous week, showcasing resilience in the face of market volatility.
• The news of AMD gaining ground in the AI chip market may have indirectly benefited NVIDIA, as it reinforces the growing demand for such technologies, boosting investor confidence in NVDA's position in the market.
• Insider selling activities in NVDA were noted, which could be interpreted in various ways, but the overall market sentiment remained positive towards the stock, contributing to its bullish movement.
• The overall positive sentiment in tech stocks, as seen with strong earnings reports and the market's focus on discounted stocks like NVDA, further supported the bullish movement in NVIDIA's stock price.

06.08.2024 - NVDA Stock was down 5.2%

• Despite US export restrictions, reports of Nvidia's AI chips being available in China at discounted rates could be impacting the stock negatively.
• The bearish movement in Nvidia's stock could also be influenced by the overall weakness in the semiconductor sector, as indicated by the premarket decline of chip peers like Broadcom.
• The news of soaring demand boosting semiconductor sales, while positive for the industry, might not have been enough to offset the specific challenges faced by Nvidia today.
• The comparison of favorite stocks to favorite players in a fantasy portfolio by Jim Cramer, though interesting, is unlikely to have directly impacted the bearish movement in Nvidia's stock.

31.09.2024 - NVDA Stock was down 5.2%

• Factors such as Samsung's strong performance in the chip division and advancements in high-bandwidth memory technology by SK Hynix and Micron may have put pressure on Nvidia's market position, leading to the bearish movement.
• Optimistic outlook by AMD in the AI computing market and Meta Platforms' development of the Llama 4 AI model using Nvidia GPUs could have highlighted increased competition for Nvidia, impacting its stock negatively.
• The upcoming conference call by Nvidia to discuss its financial results for the third quarter of fiscal year 2025 might have created uncertainty among investors, contributing to the bearish trend in the stock price.
• In conclusion, the bearish movement in Nvidia's stock can be attributed to a combination of competitive pressures, advancements by rival companies, and upcoming financial discussions.

12.08.2024 - NVDA Stock was up 5.9%

• Shares of Nvidia surged over 8% after optimistic comments from CEO Jensen Huang about the potential of AI beyond data centers.
• Asian chip-related stocks saw a rally due to the renewed AI optimism, further boosting Nvidia's performance.
• Despite CEO Jensen Huang selling some Nvidia stock, the overall bullish sentiment remained strong, reflecting confidence in the company's growth prospects.
• Despite the news of AMD gaining traction in the AI chip market and increasing demands by Oracle, Nvidia's bullish momentum continued, highlighting the company's strong position in the industry.

15.09.2024 - NVDA Stock was down 5.7%

• The bearish movement in NVDA could be attributed to potential export restrictions on advanced AI chips to specific countries, leading to concerns about future revenue streams.
• The U.S.-China standoff and discussions within the Biden administration about curbing sales of such chips may have created uncertainty among investors, impacting the stock negatively.
• Despite recent record highs and being on the verge of becoming the most valuable company, the market's reaction today suggests that geopolitical factors and regulatory concerns are currently weighing on NVDA's performance.

03.09.2024 - NVDA Stock was up 5.8%

• CEO Jensen Huang has stated that the demand for Nvidia's upcoming Blackwell GPU platform is exceptionally high ('insane'), hinting at strong interest and potential future sales growth.
• A strategic collaboration with Accenture to deploy AI agents in corporate settings is expected to spur the adoption of Nvidia's technology, potentially increasing revenues.
• Industry analysts are positive about Nvidia's position in the AI sector and the partnership with Accenture, predicting significant market expansion and faster adoption of AI technologies factors likely contributing to the upward movement in the stock price.
• By establishing the Accenture NVIDIA Business Group in an expanded partnership, Nvidia underscores its dedication to growing its footprint in the AI market, bolstering investor confidence and propelling the stock price upwards.

17.09.2024 - NVDA Stock was up 5.0%

• Nvidia, along with other chipmakers like AMD and Micron, are surging higher premarket, indicating positive sentiment in the semiconductor space.
• TSMC's impressive third-quarter profit beat expectations, driven by the AI boom, further boosting confidence in the industry.
• Billionaire investor Druckenmiller's regret over selling Nvidia stock amidst its stratospheric rally highlights the company's strong performance and potential for growth.
• The overall bullish sentiment in the market, fueled by the AI surge, has contributed to Nvidia's impressive stock performance and the completion of a 2-year bull run.