{"id":48438,"date":"2024-08-05T10:57:44","date_gmt":"2024-08-05T14:57:44","guid":{"rendered":"https:\/\/usa.businessupturn.com\/?p=48438"},"modified":"2024-08-05T10:57:44","modified_gmt":"2024-08-05T14:57:44","slug":"nvda-stock-alert-why-is-nvidia-down-today","status":"publish","type":"post","link":"https:\/\/www.businessupturn.com\/usa\/nvda-stock-alert-why-is-nvidia-down-today\/48438\/","title":{"rendered":"NVDA Stock Alert: Why is Nvidia down today?"},"content":{"rendered":"<p>Nvidia (NVDA) stock fell 11% overnight, continuing the market\u2019s downward trend. The shares were fighting to hold $94 before the market opened, after closing Friday at over $107.<\/p>\n<h4>Market Impact<\/h4>\n<ul>\n<li><strong>Broad Market Decline:<\/strong>\n<ul>\n<li>The Nasdaq average dropped nearly 6%.<\/li>\n<li>The S&P 500 fell nearly 4.5%.<\/li>\n<li>The Dow Jones average was down over 3%.<\/li>\n<li>Japan\u2019s market fell 12.4%, erasing its gains for the year.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4>Nvidia\u2019s Market Position<\/h4>\n<ul>\n<li><strong>Market Capitalization:<\/strong>\n<ul>\n<li>Nvidia\u2019s market cap dropped to $2.35 trillion, down from over $3 trillion less than a month ago.<\/li>\n<li>The stock is trading at 19 times its estimated fiscal 2025 sales of $120 billion.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Volatility and Reassurance:<\/strong>\n<ul>\n<li>Chicago Federal Reserve President Austan Goolsbee\u2019s comments that the Fed will \u201cfix it\u201d if the economy falters reassured markets before their 9:30 a.m. opening.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4>Upcoming Earnings<\/h4>\n<ul>\n<li><strong>Earnings Release:<\/strong>\n<ul>\n<li>Nvidia is set to release its second-quarter earnings on Aug. 28.<\/li>\n<li>Analysts expect revenue of $28.5 billion and earnings of 64 cents per share.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4>Analyst Expectations<\/h4>\n<ul>\n<li><strong>Price Targets:<\/strong>\n<ul>\n<li>Analysts had previously set a price target of $144 per share for Nvidia, which would represent a significant gain from current levels.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4>Recent Developments<\/h4>\n<ul>\n<li><strong>Department of Justice Probe:<\/strong>\n<ul>\n<li>A probe into Nvidia\u2019s purchase of Run.ai contributed to a 7% drop in its stock on Aug. 2.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Positive News:<\/strong>\n<ul>\n<li>Meta Platforms (META) plans to have 350,000 Nvidia H-100 chips online by the end of the year.<\/li>\n<li>Nvidia is building generative AI models based on Meta\u2019s Llama 3.1 Large Language Model (LLM).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4>Nvidia\u2019s AI Market Dominance<\/h4>\n<ul>\n<li><strong>Software and Hardware:<\/strong>\n<ul>\n<li>Nvidia\u2019s dominance in the AI market is supported by its Cuda software, which has become a de-facto industry standard.<\/li>\n<li>The company has also developed application program interfaces (APIs) on top of it.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Nvidia (NVDA) stock fell 11% overnight, continuing the market\u2019s downward trend. The shares were fighting to hold $94 before the\u2026<\/p>\n","protected":false},"author":432,"featured_media":48439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[3934],"class_list":["post-48438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-markets","tag-nvidia"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/48438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/432"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=48438"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/48438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/48439"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=48438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=48438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=48438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}