chip manufacturing giant NVIDIA Couldn’t shake off losses from earlier this week, despite S&P 500 Index Basic recovery.
Nvidia shares fell 0.2% on Friday and ended the week down about 2.4%. Not only did this underperform the broader market index; It closed up only 0.04% Its gains have eased so far this week, but also lagged the semiconductor industry. this iShares Semiconductor ETF (SOXX) It ended the week up 2.4%.
Nvidia vs. SOXX ETF comparison over the past week
Potential delays in the company’s Blackwell chips have weighed on the stock, which is still poised to rise 111% in 2024 on the back of the artificial intelligence craze.
Vivek Arya, an analyst at Bank of America, said that despite Nvidia’s recent stock price decline, its fundamentals remain strong and its valuation is competitive.
“I don’t think what’s happening in the market and the volatility has anything to do with the semifinals. But that’s where all the gains are, because artificial intelligence is the best game in town, and that’s why these companies are also seeing the biggest comebacks during this volatility. Pull out,” Arya told CNBC “Gaga Box” on Friday.
