Chipmaking giant Nvidia failed to move up from its losses earlier this week even as the S & P 500 broadly recovered. Nvidia shares slipped 0.2% Friday to finish the week down around 2.4%. That is underperforming not only the broad market index, which closed only 0.04% lower week to date, but it is also lagging behind the semiconductor sector. The iShares Semiconductor ETF (SOXX) managed to finish the week up 2.4%. NVDA SOXX 5D mountain Nvidia versus the SOXX ETF over the past week Potential delays with the company’s Blackwell chips have pressured the stock, which remains 111% higher in 2024 on the back of the artificial intelligence boom. Bank of America analyst Vivek Arya said despite Nvidia’s recent stock losses, the fundamentals remain strong and its valuation is competitive. “I think what’s happening in the market and the volatility has nothing to do with semis. But this is where all the gains were because AI was the best game in town, and that’s why these companies saw the most drawdown also during this volatility,” Arya told CNBC’s “Squawk Box” on Friday.
Chipmaking giant Nvidia failed to move up from its losses earlier this week even as the S&P 500 broadly recovered.
Nvidia shares slipped 0.2% Friday to finish the week down around 2.4%. That is underperforming not only the broad market index, which closed only 0.04% lower week to date, but it is also lagging behind the semiconductor sector. The iShares Semiconductor ETF (SOXX) managed to finish the week up 2.4%.
Nvidia versus the SOXX ETF over the past week
Potential delays with the company’s Blackwell chips have pressured the stock, which remains 111% higher in 2024 on the back of the artificial intelligence boom.
Bank of America analyst Vivek Arya said despite Nvidia’s recent stock losses, the fundamentals remain strong and its valuation is competitive.
“I think what’s happening in the market and the volatility has nothing to do with semis. But this is where all the gains were because AI was the best game in town, and that’s why these companies saw the most drawdown also during this volatility,” Arya told CNBC’s “Squawk Box” on Friday.
Microsoft CEO Satya Nadella departs following a meeting of the White House Task Force on AI Education in the East Room of the White House in Washington on Sept. 4, 2025. Eric Lee | Bloomberg | Getty Images Microsoft was hit with outages in its Azure cloud and 365 services on Wednesday, hours before the […]
Meta CEO Mark Zuckerberg wears the Meta Ray-Ban Display glasses, as he delivers a speech presenting the new line of smart glasses, during the Meta Connect event at the company’s headquarters in Menlo Park, California, U.S., Sept. 17, 2025. Carlos Barria | Reuters Meta is slated to report third-quarter earnings on Wednesday after the bell […]
Digital render of NEOM’s The Line project in Saudi Arabia The Line, NEOM When Saudi Arabia first announced plans to reinvent its oil-based economy, huge infrastructure projects like the futuristic region NEOM and smart city The Line were championed as central to the transformation. Almost a decade on from the launch of its “Vision 2030” […]