In a report published today, Business Insider detailed a letter written by Senator Elizabeth Warren voicing support for an antitrust investigation into Nvidia. Warren raised concerns that the company has become too influential in the AI space and stated that its dominant market position posed “dire economic risks.” You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. Mr. McClement’s’ service with the firm dates back to 2004, including his years with State Street Research & Management (SSRM), which merged with BlackRock in 2005.
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Fees data reflected above is current as of the latest annual shareholder report. Investors have been cautious on Nvidia stock since the company posted second-quarter financials that beat earnings estimates but not quite enough to meet the loftiest expectations. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services.
Disappointing jobs numbers are dragging Nvidia stock down
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Since then, BOE stock has increased by 9.8% and is now trading at $10.89. Share this fund with your financial planner to find out how it can fit in yourportfolio. Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment.
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Investment return and principal value of an investment will fluctuate so that an investor’s shares may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section. Nvidia responded publicly to Bloomberg’s report yesterday and stated that it had not been subpoenaed by the DoJ, which helped spur a rebound for the stock, but the possibility of a looming antitrust suit was thrust back into the spotlight.
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For example, investors received news earlier in the week that U.S. manufacturing production had declined again last month. So even though the long-awaited pivot to rate cuts now appears to be imminent, investors may not be getting the bullish macroeconomic backdrop they had hoped for. While the Fed is widely expected to finally deliver an interest rate cut later this month, investors have recently become more skeptical about the likelihood of the soft-landing scenario being achieved. The jobs report published by the Labor Department today have provided the latest bit of bad news on that front, and Nvidia and other growth stocks are getting hit particularly hard.
For risk-tolerant investors willing to embrace volatility, recent pullbacks for Nvidia stock could be a worthwhile buying opportunity. Nvidia’s advanced graphics processing units (GPUs) have become the foundational hardware for AI training and other 6 types of technical analysis every forex trader should learn applications, and the company has a commanding lead in the product category. But while the company dominates the advanced GPU market, it’s not clear that the DoJ would win an antitrust suit against the company even if it decided to pursue such action.