Nvidia Stock: New Drop of 3.58% Following October Peak
NVIDIA experienced another negative day on November 13, confirming the recent difficulties of the stock after its peak on October 29. The stock closed at $186.86, marking a decline of 3.58% for the session. This drop is part of a volatile environment in the technology sector. Despite this, the stock maintains a solid annual growth.
Daily Trading Details
NVIDIA ended the day on November 13 at $186.86, down by 3.58% compared to the previous closing. The trading volume reached 207.42 million shares, representing 0.85% of the company's market capitalization, indicating sustained market activity around the stock. On an annual basis, NVIDIA maintains a performance of +27.75%, outperforming the +18.33% recorded by the S&P 500 index. However, over the course of the week, the stock has shown a decline of 0.65%, reflecting recent turbulence. The U.S. market closed mixed: the S&P 500 advanced by 0.36%, while the Nasdaq Composite fell by 0.26% to 23,406.46 points. The Dow Jones index appreciated by 0.68%. This mixed performance highlights the heterogeneous dynamics of the market. NVIDIA remains the most valued company in the world, a status that exposes it to profit-taking when expectations are revised downwards.
Sector Adjustment Phase
The technology sector is undergoing an adjustment phase. AMD closed with a sharp increase of 9%, after presenting ambitious financial targets for the next three to five years. The equipment manufacturer anticipates an adjusted earnings per share exceeding $20 and an adjusted operating margin over 35%, fueled by an average annual revenue growth exceeding 35%. Tesla and Broadcom also declined by 6.6% and 4.3% respectively, reflecting some market caution towards mega-cap tech companies. The context of the last three weeks is not trivial: since the peak on October 29, NVIDIA shareholders have seen a value destruction of $300 billion.
