📉 NVIDIA's Market Cap Plunges: A $65B Drop to $1.18T 🚨🔻
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NVDA's Rough Week: A Deeper Look
Last week wasn't kind to NVIDIA (NVDA, $482.42), with the company experiencing a significant -4.3% drop in market cap, translating into a staggering $65.0B decrease. Amidst a challenging week for the Semiconductors Industry, NVDA's performance is particularly noteworthy, considering its position as an industry leader.
Market Dynamics: Semiconductor Industry Overview
Out of 162 stocks analyzed in the Semiconductors Industry, only 44 (26.92%) showed an Uptrend, while a majority of 118 stocks (73.08%) were in a Downtrend, painting a rather bleak picture of the current industry climate.
NVDA's Earnings and Dividend Insights
Despite the market cap hit, NVIDIA's last earnings report on November 21 indicated a beat on expectations, with earnings per share of $4.02 against a forecast of $3.36. With a substantial 21.35M shares outstanding, NVDA's market capitalization still stands tall at a massive 1.18T.
📅 Dividend Update: NVIDIA will be paying a dividend of $0.04 per share, with the upcoming ex-dividend date set for December 05, 2023.
Who Else Is in the Picture?
Other notable players in the Semiconductors Industry include Broadcom (AVGO), Taiwan Semiconductor Manufacturing (TSM), AMD (AMD), Intel (INTC), and more. This sector is pivotal for numerous electronic devices and is expected to grow with the advent of 5G, autonomous vehicles, IoT, and AI technologies.
Market Cap Context:
- NVDA tops the list in its industry with a market cap of 1.18T.
- The industry's average market capitalization stands at 31.38B.
- The least valued company in this sector is CYBL, with a market cap of only 13.43K.
Price and Volume Movements:
The Semiconductors Industry saw an average weekly price growth of 2%, while NVDA's stock experienced a -5.46% decline over the last five trading days.
What's Next for NVIDIA?
Despite the recent downturn, forecasts predict NVDA's price might rebound to around $552.11, offering a potential 18.06% return. However, this comes with a moderate 19.69% success probability.
Correlation Insights:
NVDA has shown a strong correlation (78%) with AOSL over the past year, suggesting similar movement patterns between these stocks.
Trading Outlook:
As NVIDIA navigates through these challenging market conditions, traders should closely monitor industry trends and the company's performance. With its significant market presence and potential for rebound, NVDA remains a key player to watch in the dynamic Semiconductors Industry. 📊💡🔍 💼📈
NVDA in upward trend: price may jump up because it broke its lower Bollinger Band on September 03, 2024
NVDA may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 33 cases where NVDA's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
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a manufacturer of computer graphics processors, chipsets, and related multimedia software
Industry Semiconductors