Semiconductor giant Nvidia failed to recover from a selloff earlier this week, despite the broader recovery of the S&P 500. Nvidia shares fell 0.2% on Friday and closed the week down about 2.4%. That’s not only underperforming the broader market index, which is down just 0.04% so far this week, but also lagging the semiconductor sector. The iShares Semiconductor ETF (SOXX) ended the week up 2.4%. NVDA SOXX 5D Mountain Nvidia vs. SOXX ETF Over the Past Week Potential delays to the company’s Blackwell chips are putting pressure on the stock, but the company is up 111% in 2024 on the back of an artificial intelligence boom. Bank of America analyst Vivek Arya said that while Nvidia’s stock has recently fallen, its fundamentals remain strong and its valuation remains competitive. “I don’t think what’s going on in the market, the volatility, has anything to do with semiconductors, but all the gains were made in semiconductors because AI was the best game in town, so those companies have seen the biggest declines during this volatility,” Arya said Friday on CNBC’s “Squawk Box.”
Major semiconductor manufacturer NVIDIA It was unable to recover from losses earlier this week, S&P 500 I have generally recovered.
Nvidia shares fell 0.2% on Friday and ended the week down 2.4%, underperforming the broader market index, which is down 0.04% so far this week, as well as lagging the semiconductor sector. iShares Semiconductor ETF (SOXX) It ended the weekend up 2.4%.
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Nvidia vs SOXX ETF in the past week
Potential delays to the company’s Blackwell chips are putting pressure on the stock, but the artificial intelligence boom is expected to drive the stock price up 111% by 2024.
Bank of America analyst Vivek Arya said that despite the recent sell-off in Nvidia’s stock price, its fundamentals remain strong and its valuation remains competitive.
“I don’t think what’s going on in the market, the volatility, has anything to do with semiconductors, but all the gains were made in semiconductors because AI was the best game in town, so those companies have seen the biggest declines during this volatility,” Arya said Friday on CNBC’s “Squawk Box.”
