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Nvidia stock price takes another hit as Wall Street debates an AI bubble. Here’s why it’s down today
Some prominent investors who have successful track records of calling other market declines have become vocal critics of the AI boom. Michael Burry and Jim Chanos are both shorting Nvidia stock, meaning they will make money if the price goes down further.
Micron has been a victim of souring AI sentiment lately, but its upbeat outlook has Wall Street now feeling better about the path forward.
However, here's the key point: despite this significant drop, AVGO is still up by 47% year-to-date. So what course of action should you take now?
Nvidia Corporation upgraded to strong buy as AI demand surges. Click for how Q3 revenue growth, rising margins, and solid valuation make NVDA a compelling stock.
Tesla's stock climbed to an all-time high Tuesday, setting its first record in a year, as investors buy into the electric vehicle maker's plans for autonomous driving, robotics, and AI.
Palantir Technologies (NASDAQ: PLTR) had its initial public offering ( IPO) in September 2020. The company sold its first round of public shares to institutional buyers and other investors for $7.50 per share and closed out its first day of trading priced at $9.50 per share.
For the November quarter, the chip company reported earnings per share of $4.78, compared to Wall Street’s consensus estimate of $3.96, according to FactSet. Revenue came in at $13.6 billion, which was above analysts’ expectations of $12.9 billion.
Broadcom shares started the week with more declines, following last week's selloff. Shares in the chipmaker dropped 5.6% Monday, following [the sharp fall](
Last week, the two companies announced that Disney would allow OpenAI’s Sora to draw from a library of more than 200 animated and creature characters, including Mickey Mouse, Cinderella, Ariel and Simba. Disney also agreed to take a $1 billion stake in OpenAI at its current $500 billion valuation.
The chip maker has been a victim of souring AI sentiment lately, but its upbeat outlook has Wall Street feeling better about the path forward.