NVIDIA Corporation ($NVDA) Stock Forecast: Down 6.5% 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. Today, NVDA experienced a significant bearish movement in the market.

Why is NVIDIA Corporation going down?

NVDA stock is down 6.5% on Jul 30, 2024 19:36

• NVDA stock is down over 15% in the past month, following a period of substantial gains earlier in the year, indicating a correction in the market.
• Investor anxiety is high ahead of big tech earnings reports, particularly from companies like Microsoft and Advanced Micro Devices, leading to a broader market pullback and impacting NVDA's stock price negatively.
• The tech sector, including semiconductor stocks like NVDA, faced selling pressure as investors awaited key earnings reports and the Federal Open Market Committee meeting, contributing to NVDA's decline.
• The uncertainty surrounding interest rates, with expectations of a potential rate cut in September, adds to the volatility in highly leveraged tech stocks like NVDA, further influencing the bearish movement in the market.

NVDA Price Chart

NVDA News

NVIDIA Shares Are Trading Lower: What You Need To Know - Advanced Micro Devices ( NASDAQ:AMD ) , Amkor Tech ( NASDAQ:AMKR )

NVIDIA Corporation NVDA shares are trading lower Tuesday amid a broader market pullback. Here's what you need to know. What To Know: Investors brace for a week of big tech earnings reports, which are expected to provide insights into corporate spending on AI buildouts.

https://www.benzinga.com/news/24/07/40048796/nvidia-shares-are-trading-lower-what-you-need-to-know

Nvidia (NVDA) Stock Falls as Investors Brace for Big Tech Earnings, FOMC Decision

Nvidia (NASDAQ:NVDA) stock is sliding today ahead of some major potential catalysts. Indeed, investors are clearly anxious ahead of tech earnings from the likes of Microsoft (NASDAQ:MSFT) and fellow chipmaker Advanced Micro Devices (NASDAQ:AMD) as well as the all-important rate-cut decision tomorrow. What do you need to know about NVDA stock lately? Well, after carrying the stock market over the first six months of the year, Nvidia is in the midst of a correction. NVDA is down more than 15% over the past month as investors capture profits after riding the stock’s more than 100% gains year-to-date (YTD). NVDA is currently trading at its lowest level since late May. Aside from the company’s August earnings report, this week may prove the strongest indicator of what’s to come for the chip stock. Interest rates remain one of the biggest headwinds for highly leveraged, growth-centric tech stocks of which Nvidia is the kingpin. While most traders have already priced in no change to rates this month, they’ll be watching closely for any hint at what’s to come in September. Many analysts believe the Federal Reserve is likely to cut rates at the September policy meeting. Depending on Fed Chair Jerome Powell’s tone this week, these hopes may either be confirmed or crushed.

https://investorplace.com/2024/07/nvidia-nvda-stock-falls-as-investors-brace-for-big-tech-earnings-fomc-decision/

ASX to rise, Nvidia sinks amid renewed tech selling

Australian shares are set to open higher. The Nasdaq Composite and S&P 500 fell as nerves fray before Microsoft’s quarterly results.

https://www.afr.com/markets/equity-markets/asx-to-rise-nvidia-sinks-amid-renewed-tech-selling-20240731-p5jxsd

Recursion to Report Q2 Earnings: What''s in the Cards?

We believe that Recursion (NASDAQ: RXRX ), a TechBio company that decodes biology and chemistry to industrialize drug discovery, is likely to beat expectations when it reports second-quarter 2024 results. The Zacks Consensus Estimate is pegged at a loss of 35 cents per share. The Zacks Consensus Estimate for second-quarter revenues is pinned at $14.1 million. Let''s see how things might have shaped up for the upcoming quarterly release. Factors to Consider In the absence of a marketed product in the company''s commercial portfolio, Recursion only recognizes collaboration revenues from its partners. Recursion has ongoing collaboration agreements with pharma giants like Roche and Bayer to develop candidates for several oncology indications, with differentiated mechanisms of action. RXRX also collaborated with NVIDIA Corporation, the worldwide leader in visual computing technologies, to build a next-generation platform for the company to develop novel therapies. The company is expected to provide updates regarding the clinical-stage pipeline programs on its second-quarter earnings call.

https://www.benzinga.com/general/biotech/24/07/40041704/recursion-to-report-q2-earnings-whats-in-the-cards

Tech Stocks Drop Ahead Of Key Earnings; Nvidia Falls, CrowdStrike Hits 8-Month Low: What''s Driving Markets Tuesday?

Investor sentiment took a hit on Tuesday as caution prevailed ahead of significant market events, including key tech earnings reports and the Federal Open Market Committee meeting. The Nasdaq 100, heavily weighted with tech stocks, experienced the most significant decline among major U.S. indices, dropping 1.5%. Semiconductor stocks were particularly affected, with Nvidia Corp. (NASDAQ: NVDA ) plummeting over 6% to a two-month low, impacting the entire industry. Consequently, the iShares Semiconductor ETF (NYSE: SOXX ) fell nearly 3%, marking its sixth negative close in the last eight sessions. The S&P 500 also dipped 0.8%, primarily due to its heavy tech exposure, while the Dow Jones and Russell 2000 managed to avoid losses. Notably, the iShares Russell 2000 ETF (NYSE: IWM ) has outperformed tech stocks by 15% so far this month. Microsoft Corp. (NYSE: MSFT ) declined more than 1% ahead of its post-market earnings announcement, while Apple Inc . (NASDAQ: AAPL ), Alphabet Inc. (NASDAQ: GOOGL ), and Meta Platforms Inc . (NASDAQ: META ) experienced smaller losses in anticipation of their reports later in the week.

https://www.benzinga.com/markets/cryptocurrency/24/07/40046953/tech-stocks-drop-ahead-of-key-earnings-nvidia-falls-crowdstrike-hits-8-month-low-whats-dri

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NVIDIA Corporation Price History

30.06.2024 - NVDA Stock was down 6.5%

• NVDA stock is down over 15% in the past month, following a period of substantial gains earlier in the year, indicating a correction in the market.
• Investor anxiety is high ahead of big tech earnings reports, particularly from companies like Microsoft and Advanced Micro Devices, leading to a broader market pullback and impacting NVDA's stock price negatively.
• The tech sector, including semiconductor stocks like NVDA, faced selling pressure as investors awaited key earnings reports and the Federal Open Market Committee meeting, contributing to NVDA's decline.
• The uncertainty surrounding interest rates, with expectations of a potential rate cut in September, adds to the volatility in highly leveraged tech stocks like NVDA, further influencing the bearish movement in the market.

30.06.2024 - NVDA Stock was down 5.3%

• NVDA stock experienced a notable decline of over 6%, reaching a two-month low, impacting the semiconductor industry alongside other tech stocks due to cautious investor behavior preceding crucial tech earnings releases and the Federal Open Market Committee meeting.
• The broader tech sector, specifically semiconductor stocks, faced a decline as investor sentiment was dampened, leading to a 1.5% decrease in the Nasdaq 100 index.
• Analysts had previously expressed optimism regarding NVDA, pointing to robust demand for AI technology and the company's groundbreaking products such as NVIDIA DRIVE for autonomous vehicles and Omniverse software for metaverse applications.
• Analyzing technical data reveals that NVDA is encountering a testing phase of critical price support levels as selling pressure mounts, indicating a challenging near-term outlook for the stock.

30.06.2024 - NVDA Stock was down 5.9%

• Nvidia's stock witnessed a significant decline of over 6%.
• The bearish movement could be linked to a general downturn in the tech sector, with the Nasdaq falling by 1%.
• Recent developments suggesting Apple's utilization of Google's chips over Nvidia's processors for AI models might have impacted investor confidence in Nvidia.
• Despite Nvidia's focus on advancing humanoid robotics, market response appears more influenced by wider industry trends and competitor updates.

30.06.2024 - NVDA Stock was down 8.4%

• Nvidia's stock plummeted by over 6%, dragging down the Nasdaq, potentially influenced by:
• The introduction of new AI-driven products by ASUS, which could have sparked concerns about increased competition in the AI sector, impacting investor confidence in Nvidia.
• Rumors of Apple opting for Google's custom chips over Nvidia's hardware for AI training, suggesting a shift in industry dynamics, potentially affecting Nvidia's market standing.
• Alerts warning of overvalued AI stocks and the necessity to divest before a possible market correction might have unnerved investors holding Nvidia shares, contributing to the bearish trend.
• Despite collaborative ventures by key industry figures like Jensen Huang of Nvidia and Mark Zuckerberg of Meta to explore the future of AI, market players might have adopted a cautious stance due to uncertainties surrounding Nvidia's position in the evolving AI landscape.

30.06.2024 - NVDA Stock was down 6.6%

• Apple's decision to train its AI models on Google's custom chips instead of Nvidia's hardware could have impacted Nvidia's stock negatively, signaling potential loss of a major client.
• The discussion between Jensen Huang from Nvidia and Mark Zuckerberg from Meta on the future of AI at SIGGRAPH 2024 might have raised concerns about Nvidia's competitive positioning in the AI space.
• Apple's choice to use Google TPUs over Nvidia's GPUs for its AI models could have further fueled investor uncertainty about Nvidia's future prospects in the AI market.
• The news of Taiwan Semiconductor Manufacturing Co breaking ground on its first European chip plant in Germany might have also contributed to the bearish sentiment, potentially overshadowing Nvidia's market presence.

30.06.2024 - NVDA Stock was down 5.9%

• The decline in NVDA stock value today might be linked to investors seizing profits following a period of considerable growth.
• Despite Nvidia's strides in AI and robotics software offerings, market sentiments could have been influenced by worries about heightened competition within the semiconductor industry.
• The announcement about Taiwan Semiconductor Manufacturing Co (NYSE: TSM) launching its inaugural chip facility in Germany may have directed investor attention towards potential future rivals for Nvidia in the semiconductor domain.
• The general outlook in the semiconductor industry, as noted in discussions about emerging stocks set for substantial growth, could have encouraged investors to adjust their asset allocations away from Nvidia, contributing to the downturn.

30.06.2024 - NVDA Stock was down 5.5%

• The bearish movement in NVDA stock today could be attributed to Apple opting for Google's Tensor chips over Nvidia's GPUs for their AI development, indicating a potential loss in market share for Nvidia in the AI processor market.
• Additionally, the announcement of Taiwan Semiconductor Manufacturing Co breaking ground for its first European chip plant in Germany may have raised concerns about increased competition in the semiconductor industry, impacting Nvidia's stock negatively.
• Despite Nvidia's efforts to drive value with AI and robotics software services and unveiling updates to its software suite, the market sentiment might have been influenced by the perceived threat from emerging technologies and competitors in the sector.

30.06.2024 - NVDA Stock was down 6.6%

• NVDA stock saw a bearish trend possibly linked to Apple's choice of using Google's Tensor chips instead of Nvidia's GPUs for their AI infrastructure.
• Apple's shift in hardware preference points to a potential market share loss for Nvidia in the AI processor sector, affecting investor confidence in NVDA stock.
• This development, coupled with technical indicators signaling a buying opportunity following a sharp stock price drop, likely contributed to the downward movement as traders reassess their positions.
• The market's response suggests investors are keenly observing competitive dynamics within the semiconductor industry, especially in the AI segment, which could impact NVDA's future performance.

30.06.2024 - NVDA Stock was down 5.3%

• NVDA experienced a bearish movement despite positive analyst calls and a focus on innovation in self-driving cars by CEO Jensen Huang.
• The overall market sentiment was mixed with futures rising ahead of Microsoft earnings and central bank decisions, but NVDA's stock was down.
• Apple using Google chips instead of Nvidia's hardware for training AI models could have impacted NVDA's stock negatively, as it highlights potential competition and loss of market share in the AI processor segment.
• The challenging times in the EV market and skepticism from analysts might have also contributed to the bearish movement in NVDA, as investors may have concerns about the company's involvement in the electric vehicle space.

26.06.2024 - NVDA Stock was up 6.7%

• Nvidia's bullish movement could be attributed to positive investor sentiment and confidence in the company's long-term growth prospects.
• Despite concerns about overvaluation in the tech sector and disappointing earnings reports from other tech giants like Alphabet and Tesla, investors seem to view Nvidia as a strong player in the semiconductor industry.
• The sell-off in overvalued tech stocks may have led investors to seek out semiconductor stocks like Nvidia, which are seen as essential to the digital age and potentially offering market-crushing returns.
• Analysts issuing a sell-off alert for Nvidia may have raised some concerns, but the overall bullish movement suggests that investors are still optimistic about the company's position in the market and its potential for future growth.

25.06.2024 - NVDA Stock was down 5.4%

• NVDA witnessed a significant decline in its stock price today amid a general downturn in the tech sector.
• The pessimistic outlook in tech, particularly affecting AI-focused firms like NVDA, was driven by concerns of a potential AI market collapse as evidenced by the widespread sell-off of major tech equities.
• Despite the attention garnered by the strategic alliance between Fabrinet and NVDA, market apprehensions regarding the growth of tech firms overshadowed any positive developments.
• The upcoming earnings release of Super Micro Computer (SMCI) and the expectation of a rebound in tech stocks on August 6th hold the prospect of offering some optimism for NVDA and other sector players, depending on prevailing market sentiments.

24.06.2024 - NVDA Stock was down 6.0%

• Nvidia's stock experienced a strong bearish movement, in line with the broader semiconductor sector's worst day this week.
• The decision for Nvidia to incorporate Samsung's memory chips in its AI chips for the Chinese market is viewed as a strategic move, which has raised investor concerns regarding the company's chip supply chain stability.
• The decline in chip stocks, including Nvidia, can be attributed to overall market sentiments, possibly influenced by worries about global chip shortages, competition in the industry, and macroeconomic issues affecting technology equities.
• Despite Nvidia's technological advancements and strong market position, the prevailing market conditions and sector-specific challenges appear to have impacted the downward movement in its stock price today.

24.06.2024 - NVDA Stock was down 6.4%

• Decision to use Samsung's memory chips in its AI chips for the Chinese market may have raised concerns about Nvidia's reliance on external suppliers, impacting investor confidence.
• The selloff in chip stocks, including Nvidia, could be driven by overall market uncertainty and profit-taking in the tech sector.
• Technical analysis suggesting Nvidia's stock is testing important support levels, combined with the broader market decline and disappointing tech earnings, likely contributed to the bearish movement.
• Elon Musk's potential shift of resources from Tesla to his AI startup, xAI, could have indirectly impacted Nvidia, as the lawsuit accusing Tesla of diverting AI talent and resources, including Nvidia GPUs, may have raised uncertainties about Nvidia's future collaborations and partnerships.