Nvidia Stock Falls 1.1% After Earnings, Analysts Remain Bullish
Nvidia, Wall Street’s dearest for its AI madness, fell somewhere in the middle this time. Yes, the chipmaker produced another robust quarter, but its guidance for the next one did not quite live up to the expectations that investors had already factored in. As a result the share declined 1.1%, reminding investors that even the market’s darling is allowed to occasionally stumble.
Nvidia’s stock fell 1.1% to $179.58 on August 29, as investors processed the company’s post-earnings position. The stock is below its recent high of $183.98, which indicates the weakening of momentum following a strong rally. The RSI is still below 70, indicating strong but muted buying pressure.
Investors are…
