Reported about 12 hours ago
Nvidia's stock has seen a significant drop due to concerns over exposure to China and possible overbuilding of AI infrastructure, with shares decreasing by 10%. Currently, the stock is below key moving averages, indicating lost momentum. Despite this, analysts like Evercore ISI's Rich Ross and Bank of America suggest that the stock is oversold and could recover, especially with important announcements expected from CEO Jensen Huang at the upcoming GTC event. Analysts maintain a bullish outlook, with Nvidia rated a 'Buy' and a price target of $200, indicating potential for significant upside.
Source: YAHOO