Despite a broad recovery in the S&P 500, chipmaking giant Nvidia has been unable to recover from losses earlier this week. Nvidia shares fell 0.2% on Friday and ended the week down about 2.4%. Not only does this underperform the broader index, which has closed just 0.04% lower so far this week, it also lags the semiconductor sector. The iShares Semiconductor ETF (SOXX) is up 2.4% this week. NVDA SOXX 5D mountain Nvidia vs SOXX ETF Over the past week Potential delays in the company’s Blackwell chips have weighed on the stock, which is still up 111% in 2024 amid the artificial intelligence boom. 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. Withdraw,” Arya said Friday on CNBC’s “Squawk Box.”
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 does this underperform the broader index, which has closed just 0.04% lower so far this week, it also lags the semiconductor sector. 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. Withdraw,” Arya said Friday on CNBC’s “Squawk Box.”
