Why Nvidia Stock Fell by Nearly 6% Today
What comes up must come down, as the old saying goes, and that rule of gravity applied to Nvidia (NASDAQ: NVDA) stock on Wednesday. The days-long rally in the tech company's shares, fueled by its involvement in artificial intelligence (AI), fizzled out as investors apparently engaged in some profit-taking and an analyst published a new note about it that contained a few items of concern.
On Wednesday morning, prognosticator Atif Malik reiterated his buy recommendation on Nvidia stock and his $420 per share price target.
Although Malik remains a resolute Nvidia bull, his note did point out some potential areas of vulnerability for the graphics card specialist's business, citing first-quarter data compiled by Mercury Research. In terms of its foundational graphics processing unit (GPU) sales, Nvidia's market share (in terms of revenue) during the period actually slipped quarter-over-quarter in categories such as data center and desktop.
Source Fool.com
Citigroup Inc. Stock
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With a target price of 71 € there is a positive potential of 28.72% for Citigroup Inc. compared to the current price of 55.16 €.
