Nvidia – NVDA
Nvidia Stock Slips to Start a Crucial Quarter. What’s at Stake ?
Nvidia stock slid Tuesday at the start of a crunch quarter for the chip company.
Shares fell 3.7% to close at $117.
The tech sector took a hit after Iran fired a barrage of missiles at Israel, escalating the conflict in the Middle East. Investors flocked to safer areas of the market, and the Nasdaq Composite dropped over 1%.
Nvidia has climbed 136% in 2024, powering the company’s market capitalization to nearly $3 trillion and cementing its status as an artificial-intelligence bellwether.
The fourth quarter is likely to be crucial for growth, given the chip designer is expected to ramp up production of its new Blackwell graphics processing units. It has said it expects the GPUs to drive “several billion dollars” worth of sales.
