Nvidia stock falls more than 5%, reversing Wednesday’s rally as chip stocks lead market lower

"These hyperscalers... their capital expenditures are high and potentially even rising into 2025. So this bodes incredibly well for Nvidia,” said Harvest Portfolio Management co-CIO Paul Meeks on Thursday.Microsoft makes up roughly 19% of the AI chipmaker's revenue, according to Bloomberg data. This week the tech giant revealed capital expenditures of almost $56 billion for the full year ending June 30.

Social media giant Meta, which accounts for roughly 10% of Nvidia's revenue per Bloomberg data, said it expects to see "significant" capital expenditures growth in 2025 afterThe chip sector as a whole has benefited from the AI frenzy, but Nvidia is seen as the main beneficiary, up roughly 130% year-to-date. Rival AMD is down roughly 9% since the start of the year.

Morgan Stanley cited five main drivers of the recent decline in Nvidia — spending plans, competition, export controls, supply chain fears, and valuation worries — but said, "Through those concerns, the earnings environment is likely to remain strong, for Nvidia and for the whole AI complex."The company is set to issue its next quarterly report on Wednesday, Aug. 28.

Argentina Últimas Noticias, Argentina Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Stock market news today: Stocks rally before Fed decision as Nvidia surgesA tech revival is helping lift stocks, with the Federal Reserve's rate decision on deck.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Stock market news today: Stocks rally before Fed as Nvidia surges 7%A tech revival is helping lift stocks, with the Federal Reserve's rate decision on deck.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »