NVDA Stock Price: Nvidia closes the day flat after rollercoaster session

NASDAQ:NVDA fell by 0.01% during Monday’s tumultuous session.
Semiconductor investors are still digesting Intel’s major announcement.
The chip market heats up as Intel has some fighting words for AMD.

Stocks Reporter FXStreet

NASDAQ:NVDA narrowly missed closing the session positive on Monday after a volatile morning provided one of the largest single-day swings in recent memory. Shares of NVDA fell by 0.01% and closed the trading day at $233.72. This brings NVIDIA’s losing streak to five consecutive sessions, as even the previously red-hot semiconductor sector has succumbed to Wall Street’s recent tech sell off. The broader markets took investors for a ride on Monday as all three major indices opened the day deep in the red, but managed to hit green by the closing bell. The NASDAQ was down by nearly 5.0% in the morning, but managed to rally into the close and finish 0.63% higher.

Stay up to speed with hot stocks' news!

Semiconductor stocks were mostly lower on Monday, but like the rest of the markets, staged a late day rally that erased most of the losses from earlier in the day. Intel (NASDAQ:INTC), AMD (NASDAQ:AMD), and Marvell Technologies (NASDAQ:MRVL) were all in the red, while Broadcom (NASDAQ:AVGO) managed to eke out a small gain. Semiconductor stock investors are still digesting the news dropped by Intel on Friday, that will see the chip giant spend upwards of $20 billion to build two new state of the art chip factories near Columbus, Ohio.

NVIDIA stock forecast

Perhaps Intel is feeling some confidence from its major announcement on Friday, as CEO Pat Gelsinger stated on Monday that the company has already overtaken rival AMD, thanks to its Alder Lake CPUs. When investors see this type of confidence from a CEO, it usually leads to good things for the stock. While Gelsinger didn’t directly mention NVIDIA, he must also be feeling good that Intel’s stock has more or less weathered the recent tech sell off, while shares of NVIDIA and AMD are both down 22% year to date.

Like this article? Help us with some feedback by answering this survey:

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.