Nvidia Stock Is Down 11% From Record Highs: Will This Artificial Intelligence (AI) Development Bring More Bad News for Investors?
Nvidia (NASDAQ: NVDA) hit record highs last month, with shares of the chipmaker jumping to $974 on March 8. But investors haven't had much reason to cheer since then, as this red-hot stock has been cooling down ever since.
More specifically, Nvidia stock now trades just over 11% below that record high. Wall Street is worried that the stock's bubble may have popped, and its artificial intelligence (AI)-powered growth could fizzle out thanks to intensifying competition in the market for AI chips. So it wasn't surprising to see Nvidia stock retreat another 2% on April 9 following 's (NASDAQ: INTC) launch of a new AI chip, which took direct aim at Nvidia's hottest performers.
Let's see if Nvidia investors have reason to worry following Intel's latest move to target the fast-growing AI chip market.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 25 Buy predictions and 11 Sell predictions.
With a target price of 42 € there is a positive potential of 46.24% for Intel Corp. compared to the current price of 28.72 €.
