Nvidia Stock Roars Back as Chips Lead Tech Rebound
• Nvidia (NVDA) shares surged over 6% on Thursday
• Rally came as chip stocks led a broad tech sector rebound
• Follows several days of selling on economic slowdown fears
Despite Bounce, Nvidia Still Battered:
• Stock down around 25% from June peak
• Has lost over $750B in market cap on AI trade cool-off worries
• Recession concerns have been weighing on semiconductor space
Bull Case Reemerges:
• Thursday's chip rally suggests dip-buyers see value in beaten-down names
• Analysts reiterate buying Nvidia for its long-term AI growth runway
• Some traders viewing pullback as opportunity in semiconductor leaders
What's Next?
• Rebound could be bear market rally or new sustained uptrend
• Need to see if economic picture improves for semiconductor rally to endure
• For now, chip bulls regaining control after relentless weeks of selling
YOU NEED TO READ THIS NEXT
The Mysterious VC Firm Behind Nvidia's Secret Weapon In 1999, Sutter Hill Ventures made a bold bet on Nvidia before anyone had heard of it. Now, they're going all-in on Nvidia's hush-hush partner that's powering their new Blackwell chip. Discover the little-known company that's attracting massive investments from the visionaries behind Nvidia's 100,000% rise. Full Story >>
|