Stocks Analysis by ValueWalk (David Moadel) covering: NVIDIA Corporation, Broadcom Inc. Read ValueWalk (David Moadel)'s latest article on Investing.com
) stock capped off a rough-and-tumble week on Friday, sliding perilously close to the key $100 level. There was no company-specific negative data release to cite, but several factors likely contributed to the market’s anxiety toward NVIDIA.) third-quarter fiscal 2024 report. Another possible source of consternation was the disclosure that NVIDIA CEO Jensen Huang sold millions of shares of his company.
Those are Street-beating results, but evidently the market obsessed over Broadcom’s fourth fiscal quarter revenue guidance of approximately $14 billion. In contrast, analysts estimated $14.11 billion. In other words, Huang’s share sales don’t necessarily indicate a lack of conviction in NVIDIA. Bear in mind, Huang holds around 3.5% of NVIDIA’s outstanding shares as of August 9, making him the company’s largest individual shareholder at that time .In addition, the Bureau of Labor Statistics released a less-than-ideal jobs report last week. In August, the U.S. labor market added 142,000This isn’t NVIDIA’s fault, of course, and it’s not necessarily a sign that the U.S.
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