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Nvidia Stock Falls 4%. A Steep Drop Could Lie Ahead, Says a Bear
Nvidia was slipping early on Tuesday. The chip maker's stock is down from recent highs and one analyst says a sharper fall is on the way.Nvidia shares were down 0.6% at $865.91 in premarket trading. The stock closed down 1.0% at $871.33 on Monday.The stock has dipped following an initial spike in the wake of the company's GTC developers' event when it unveiled its new range of Blackwell chips. It is now slightly lower than before the conference started. While consensus estimates call for demand for Nvidia's graphics-processing units to power artificial-intelligence technology to be strong this year, the expectation is for growth to slow from 2025 onward.D.A. Davidson analyst Gil Luria has a Hold rating on Nvidia stock and a $620 target price, which is among the lowest by any Wall Street analyst.He argues that major AI chip customers such as Amazon.com and Microsoft are likely to shift a greater amount of their investment toward in-house hardware and calls for a "significant cyclical do
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