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.
Ukrainian and Russian negotiators met in Abu Dhabi on Friday to tackle the vital issue of territory, with no sign of a compromise, as Russian airstrikes plunged Ukraine into its worst energy crisis of the nearly four-year war. Kyiv is under mounting U.S. pressure to reach a peace deal in the war triggered by Russia’s full-scale […]
Databricks co-founder and CEO Ali Ghodsi. Databricks Data analytics software company Databricks has landed $1.8 billion in fresh debt, a person familiar with the matter told CNBC. Databricks now sits on over $7 billion in debt, the person added. The company declined to comment. Databricks is among the highly valued technology companies that are primed […]
Oil prices rose Friday as President Donald Trump’s renewed threats against Iran raise concerns about supply disruptions. Iran is not a major oil producer. The country pumps about 3.4 million barrels per day, according to Kpler. That number pales in comparison with the U.S. and Saudi Arabia, which pump about 13.5 million barrels per day […]
