Why Nvidia Shares Sank Today
It seemed inevitable that Nvidia (NASDAQ: NVDA) stock wouldn't keep up its torrid pace after more than tripling over the last year. The stock has finally begun to give back a small slice of those gains in recent weeks.
That downturn extended today after Barron's highlighted an analyst report that threw cold water on many investors' growth predictions for Nvidia's artificial intelligence (AI) computer chip sales. Shares dropped nearly 5% and were still down by 2.8% as of 1:30 p.m. ET.
Nvidia has been dominant in the supply of hardware and even software for the high-powered computing needs generated by the onset of so many AI applications. Megacap technology companies including , Meta Platforms, and even Tesla have been at the front of a long line of buyers.
Source Fool.com
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