Nvidia stock sinks 5.5% due to market sell-off and disappointing Alphabet and Tesla earnings.

From CNBC: 2024-07-24 15:49:31

Nvidia stock falls 5.5% amid market sell-off. S&P 500 down 2.2%, Nasdaq down 3.3%. Alphabet & Tesla earnings disappoint, causing pullback across market.

Alphabet beats sales targets but expects rising costs. Margins may suffer due to infrastructure spending. Tesla revenue tops estimates, but profits fall short. Stock prices drop for both companies.

Despite negative market response, Nvidia benefits from Google Cloud revenue growth. Tesla continues heavy AI spending, likely to be Nvidia customer. Potential bullish sign for Nvidia.

Consideration: Motley Fool advises against Nvidia investment, suggests 10 other stocks. Nvidia not on list, but advocated stocks show potential for high returns. Expert advice for building successful portfolio.

Disclosure: Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, Tesla mentioned. Members of The Motley Fool’s board have ties to some mentioned companies. Motley Fool owns positions in recommended companies.



Read more at CNBC: Why Nvidia Stock Is Sinking Again Today