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What Happened to Nvidia Stock Now That the Market Is Down?

The stock market indexes reported losses today, but the recent golden child Nvidia is nowhere to be seen.

Stock markets surged again yesterday, led by Nvidia

This stock was making incredible gains for several days on the news that its earnings for the previous quarter were better than expected. With AI technology a hot field right now. Nvidia is poised to grow exponentially, since it provides chips for some of the most important AI software.

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The stock grew 25% in the last month, but today, it is down 0.47%. The good news for investors is that the stock did not lose what it had gained as it shot up. The bad news is that the wind has left its sails, and it is drifting along the market index for now.

Nvidia stock is now at $783.32 a share, up 66% from where it was half a year ago. Nvidia made waves when it shot past every other stock on the market, outperforming them substantially with its gains. Now, the dust has settled and the stock seems to be sitting quietly and waiting for the next big news.

Is Nvidia a Good Buy Right Now?

We would recommend Nvidia as a stock with plenty of potential. Recently, the stock market has grown and has reached record highs, indicating a healthy market with great opportunity for many stocks to do very well in the short term.

Nvidia is poised to go even higher by its next quarterly earnings report or perhaps even sooner than that. We expect that the stock will grow throughout the year, probably seeing some price surges after each quarterly report, anticipating that those go well.

Unless the AI chip market implodes suddenly, Nvidia should do very well this year. Even major companies like Google are getting in on the AI craze, and it looks to be a trend that will not fade away soon. There is simply too much potential in the niche and what it can do creatively and functionally. Nvidia is in a good position to take advantage of that growing interest.

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ABOUT THE AUTHOR See More
Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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