Nvidia Faces 10% Stock Plunge Amid AI Market Reshuffle Ahead of Big Tech Earnings
April 21, 2024Nvidia experienced a 10 percent stock value decline amidst a broader AI stock market sell-off.
Investors are repositioning ahead of major tech earnings reports and have concerns about stock splits at Nvidia and Super Micro Computer.
The AI industry still demonstrates growth potential, and current downturns may offer investment opportunities.
Some experts view the decline as an early stage in the AI market, suggesting the bubble has not burst.
Nvidia's stock drop is partly due to major clients creating their own AI chips, challenging Nvidia's business model.
Nvidia remains the third-most valuable US firm, with optimistic future performance projections and price targets of $1,150 and $1,160.
Nvidia's CEO has announced the advent of the 'super chip' era with new AI chip generations, affirming the company's AI leadership.
Investors should watch for Supermicro's Q3 earnings report due April 30 for further market insights.
Summary based on 17 sources
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Sources
Yahoo Finance • Apr 19, 2024
Why Super Micro Computer Stock Just Crashed 17%Yahoo Finance • Apr 20, 2024
Super Micro Computer stock crashes 23%, drags down AI darling Nvidia after it doesn't preannounce earningsThe Globe and Mail • Apr 19, 2024
The Globe and MailThe Globe and Mail • Apr 19, 2024
Why Nvidia Stock Plunged 10% Today