From Nasdaq: 2024-07-30 15:13:09

Nvidia (NASDAQ: NVDA) experiences a significant drop in shares, falling over 8% before rebounding slightly. The stock is down more than 25% from its recent high, possibly due to a sector rotation and CEO Jensen Huang selling shares at an average price of $126 each.

Investors are monitoring earnings reports from tech companies like Microsoft and AMD to gauge AI investments and chip demand. With Huang selling shares and sector rotation ongoing, investors may be considering de-risking their positions. Nvidia is set to announce its fiscal second-quarter results on Aug. 28.

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Disclosure: Author Howard Smith holds positions in Microsoft and Nvidia. The Motley Fool holds positions in and recommends AMD, Microsoft, and Nvidia. It advises long calls on Microsoft and short calls on Microsoft. The opinions expressed are solely those of the author and do not reflect those of Nasdaq, Inc.



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