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Cryptocurrencies
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Cryptopolitan 2025-01-08 12:00:24

Nvidia stock tumbles from ATH after product event leaves investors underwhelmed

Nvidia stock tumbles from ATH after product event leaves investors underwhelmed

Nvidia Corporation (NVDA) experienced a significant drop in stock price following its CEO, Jensen Huang’s keynote address at the Consumer Electronics Show (CES) 2025 in Las Vegas. 2024 was a great year for Nvidia Corporation. The company raced to the top as the leading producer of AI microchips, experiencing an impressive growth of approximately 118% in the stock market. In November 2024, the company surpassed Apple to grow into the world’s most valuable company. However, the new year seems to have challenges in store for them. The company’s stock hit an ATH of $149.93 on January 6, 2025, but then quickly declined by 6.2% barely a day later. The unexpected volatility appears to be a result of a change in investor confidence. Huang’s presentation at Nvidia’s product event has been implicated as the primary cause of the decline. Observers believe the CEO left investors unsatisfied with the progress updates in his speech. Jensen Huang misses the+ mark Prior to the event, Nvidia stock was at an all-time high of $153.05. This surge was spurred on by the anticipation of the company’s announcements at CES, particularly concerning their AI and robotics projects. Huang’s keynote at the event focused on the company’s new GeForce RTX 50-series gaming chips, based on the Blackwell architecture. Huang announced that these new GPUs, slated to launch in March, will deliver double the performance of their predecessors. He announced that the chips will come preinstalled on computers costing between $550 and $2,000. However, Huang failed to deliver on short-term promises to investors about the company’s AI and robotics advancements. Huang was very vague about the company’s progress simply stating that robotics technology would ramp up soon. Analysts have offered varied opinions on Nvidia’s announcements at CES and the resulting drop in the company’s stock. Benchmark Research analyst, Cody Acree, wrote in a note to clients that while Huang’s presentation was technically comprehensive, it lacked the concrete progress updates investors were seeking. The analyst noted the emphasis on the Blackwell architecture and the forthcoming Rubin platform. Nvidia Corp. ripple effect While NVDA stock was declining, other related companies were experiencing a surge. Micron Technology Inc. witnessed a 10% rise on January 6, and its shares saw an additional rise of 2.7% following the announcement that its memory technology will be integrated into Nvidia’s GPUs. The company’s shares are now trading around $101.91. Aurora Innovation experienced a 35% surge after revealing a long-term partnership with Nvidia and Germany’s Continental to deploy driverless trucks. Nvidia’s shares witnessed their worst one-day percentage drop since a 9.5% drop in September last year. However, despite the decline, analysts and investors are calling it a minor bleep as they remain confident and optimistic about the chipmaker’s prospects. From Zero to Web3 Pro: Your 90-Day Career Launch Plan

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Market Cap
24h Vol
55.82%
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