Analysts called for $369, but Nvidia still fell back to $214 on Friday.
There was no shortage of good news this week.
Tuesday’s $250 million UK donation of computing power, the RTX Spark going on sale, and GTC Berlin kicking off next week, where Jensen Huang will talk about Vera Rubin.
The market ignored all of it.
Nvidia closed at $214.13 on Friday, down 6.6% for the week and 12% from its October 6 high of $243.37; the top 20 AI and semiconductor companies lost more than $1 trillion in market value this week.
Analyst calls are getting interesting: on Friday, Arete raised its price target from $283 to $369, 72% above the share price; Dan Ives left his at $300.
The lower it falls, the more bullish the calls get, yet the market is only worried that financing costs will eat into profits—it’s focused on the money, not the vision.
I think this pullback won’t end just because of a high price target if GTC Berlin fails to deliver concrete order guidance. I’m watching, not chasing.
Invalidation level: if NVDA gets above $230 on heavy volume during GTC, that would mean investors believe in the vision again, and my thesis is invalidated.
GTC Berlin opens Tuesday. Will Jensen Huang’s keynote rescue the market, or is $214 only halfway down?
$NVDA $AMD $META
#英伟达 #AIbubble
The above is not investment advice. DYOR; trading involves risk.
There was no shortage of good news this week.
Tuesday’s $250 million UK donation of computing power, the RTX Spark going on sale, and GTC Berlin kicking off next week, where Jensen Huang will talk about Vera Rubin.
The market ignored all of it.
Nvidia closed at $214.13 on Friday, down 6.6% for the week and 12% from its October 6 high of $243.37; the top 20 AI and semiconductor companies lost more than $1 trillion in market value this week.
Analyst calls are getting interesting: on Friday, Arete raised its price target from $283 to $369, 72% above the share price; Dan Ives left his at $300.
The lower it falls, the more bullish the calls get, yet the market is only worried that financing costs will eat into profits—it’s focused on the money, not the vision.
I think this pullback won’t end just because of a high price target if GTC Berlin fails to deliver concrete order guidance. I’m watching, not chasing.
Invalidation level: if NVDA gets above $230 on heavy volume during GTC, that would mean investors believe in the vision again, and my thesis is invalidated.
GTC Berlin opens Tuesday. Will Jensen Huang’s keynote rescue the market, or is $214 only halfway down?
$NVDA $AMD $META
#英伟达 #AIbubble
The above is not investment advice. DYOR; trading involves risk.