Nvidia stock sell-off: should you be worried?

Stocks don’t go up in a straight line, and that pertains to the market’s favorite name, Nvidia, as well! Shares of the chip-maker have fallen into correction territory, dropping by 12% from their November highs. Pros point to several factors for the sell-off, ranging from only an OK third quarter earnings report to signs of new competition from Amazon (AMZN) and Broadcom (AVGO). Comments from Microsoft CEO Satya Nadella on chip supply have also weighed on Nvidia (NVDA) sentiment. Even still, Nvidia secured the 2024 Product of the Year award for its work with game-changing AI chip Blackwell. Yahoo Finance executive editor Brian Sozzi is joined at the roundtable at the Nasdaq in Times Square by one of Wall Street’s most respected chip analysts, Bofa’s Vivek Arya. Arya has been a long-time bull on Nvidia, giving the company high marks for its leadership in chip design and execution. But despite that bullishness, he hasn’t shied away from urging caution on the stock in key periods for the company. Arya dives into his current thinking on the AI chip darling of the Dow Jones Industrial Average and offers up a few predictions that will surely garner the attention of the many Nvidia bulls.
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