You should do your own thorough research before making any investment decisions. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. Information on these pages contains forward-looking statements that involve risks and uncertainties. The deal is for $1.9 billion, although it didn’t move the needle much for the stock as shares of AMD were down more than 8% this week. The chip company is acquiring Pensando to beef up its data center portfolio, a segment that NVIDIA is a market leader in. NVIDIA stock chartĪMD announced earlier in the week that it had made another acquisition, this time in the data center market. The new price target still has a near 25% upside from NVIDIA’s closing price on Friday, so the sell off seems like an overreaction. Still, it was enough for the analyst to lower NVIDIA’s price target from $347 to $298 while still reiterating his buy rating for the stock.
Truist noted that it had proof of reduced chip orders in recent weeks, although the analyst noted that it was a headwind that was specific only to Q2 and not the rest of 2022.
The S&P 500 fell by 0.27% and the NASDAQ dropped by a further 1.34% to close the week.Ī Truist analyst sent some shockwaves through the chip sector on Friday after downgrading the stocks for NVIDIA, AMD (NASDAQ:AMD), and Intel (NASDAQ:INTC). On Friday, the Dow Jones rose by 137 basis points and was the only major average to report a gain. The broader markets posted a losing week as comments from the Federal Reserve regarding further interest rate hikes and reducing its balance sheet weighed on investors. On Friday, shares of NVDA dropped by a further 4.50% and closed the trading week at $231.19.
NASDAQ:NVDA had a week to forget as the chip giant recorded an overall loss of 13.6% during the past five trading days.
0 kommentar(er)
