The post Has Nvidia (NVDA) stock lost momentum? appeared on BitcoinEthereumNews.com.

After an impressive run in 2024, powered by the artificial intelligence (AI) boom, Nvidia’s (NASDAQ: NVDA) stock price seems to be cooling off compared to general market sentiment. In fact, Nvidia ended the latest trading session relatively flat compared to other equities, which showed positive momentum after the Federal Reserve’s interest rate cut decision. Specifically, NVDA closed the day valued at $116, down 1.5% over the 24 hours.  In a weekly timeframe, the semiconductor giant has dropped 0.5%. Despite surging 140% in 2024, the stock is trading 17% below its all-time high. NVDA one-day stock price chart. Source: Google Finance. Given that Nvidia shares have been instrumental in dictating the trajectory of the technology sector, the recent performance raises questions about whether the stock’s momentum has subsided. The current trading pattern compliments concerns by several market players who believe the NVDA has been trading in a bubble.  Analyysts outlook on Nvidia stock In the meantime, some market experts argue that Nvidia remains attractive due to strong fundamentals, driven by demand for its AI chips and consistent earnings beats. One such analyst is William Blair, whose experts believe there is still more upside for Nvidia stock and note that it’s not too late for investors to get involved. In an investor note shared on September 18, Blair rated NVDA as an “outperform,” citing the company’s potential for continued dominance in the AI space. The experts noted that Nvidia’s data center revenue is expected to double in fiscal 2025 after tripling in fiscal 2024. Andrew Chang from S&P Global Ratings shared a similar outlook and reiterated that Nvidia shares have more room to climb. His forecast is mainly based on CEO Jensen Huang’s comments about the high demand for Nvidia chips, especially Blackwell. Chang sees further upside for Nvidia in the next…

---

Filed under: News - @ September 21, 2024 2:23 pm