VCG (VCG via Getty Images)
The Key Takeaways
- Nvidia’s stock is in correction territory. This occurs when the shares drop 10% below their previous peak.
- Analysts remain optimistic about the long-term prospects of the giant chipmaker despite the recent decline.
- The company's stock took a slight hit last week after Chinese regulators said they would investigate the company for potential violations of anti-monopoly laws.
Nvidia’s (NVDA), stock fell into correction territory on Monday but analysts remain bullish about the chipmaking company.
Nvidia’s shares dropped 2% in intraday trading Monday, to $131.48. They are now down roughly 12% from their closing record high of $148,88 set on November 7. Shares dropping 10% off their high are considered to be a technical corrective.
Despite the recent slump, investors don't seem to be worried in the long term. Analysts at Bank of America and Bernstein each called Nvidia a "top pick" Monday, posting price targets of $190 and $175, respectively. Visible Alpha has tracked 20 Nvidia brokers and their consensus target price is $176.
Bernstein Says 2025 Likely To Be 'Exceedingly Good Year' for Nvidia
Bernstein analysts acknowledged "recent angst" caused by Nvidia's shift from Hopper to Blackwell chips, but noted that "2025 seems likely to be an exceedingly good year."
Nvidia shares took a minor hit in the last week. The State Administration for Market Regulation of China announced it would investigate the company for possible anti-monopoly violations related to the 2020 acquisition by Nvidia of Mellanox Technologies, a networking hardware maker. Nvidia shares are still up 165% through 2024.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
