Nvidia's stock rollercoaster hit all-time highs, facing profit-taking and competition challenges

From Yahoo Finance.: 2024-06-21 12:37:13

Nvidia’s stock has been on a rollercoaster this week, hitting all-time highs before pulling back. Bank of America maintains a Buy rating with a $150 price target. Nvidia briefly topped Microsoft as the world’s most valuable company but now sits below with a market cap of $3.12 trillion. Analysts warn of potential profit-taking and competition challenges. Despite this, Nvidia reported impressive earnings and completed a 10-for-1 stock split. Analysts see potential for Nvidia to reach a $4 trillion market cap. The AI revolution is just getting started, with significant growth expected in data center spending.



Read more at Yahoo Finance.: Why Nvidia’s ‘gravy train’ could come to ‘screeching halt’ after a volatile trading week