- NASDAQ:NVDA fell by 6.80% during Thursday’s trading session.
- JPMorgan released its Top Picks for 2022, and NVIDIA was snubbed.
- An Apple iPhone shortage is causing some panic among semiconductor investors.
NASDAQ:NVDA quickly erased any gains it had made at the end of Wednesday’s session, as growth stocks went right back to tanking on Thursday. Shares of NVDA plummeted by 6.80% and closed the trading day at $283.87. NVIDIA has been one tech stock that has been beaten down over the past few weeks, as the stock valuations get trimmed after a substantial gain in 2021. The NASDAQ index itself dropped by a further 2.47% as the tech weakness continued following the speech from Federal Reserve Chairman Jerome Powell. Mega-cap tech stocks lost big on Thursday as Apple (NASDAQ:AAPL) fell by 3.93%, Amazon (NASDAQ:AMZN) dropped by 2.56%, Microsoft (NASDAQ:MSFT) lost a further 2.91%, and EV maker Tesla (NASDAQ:TSLA) tumbled by 5.03%.
Stay up to speed with hot stocks' news!
Just a day after Keybanc had a glowing report about the demand for cloud computing services, JPMorgan came out with its list of Hot Stocks Heading into 2022. The list notably included several semiconductor stocks like Broadcom (NASDAQ:AVGO) and Marvell Technology (NASDAQ:MRVL), two stocks that are trading at much lower multiples than NVIDIA. This has been the theme amongst Wall Street analysts as of late. NVIDIA has reached a price to earnings of over 90, which has turned many investors to stocks with cheaper valuations.
Nvidia stock forecast
Speaking of Apple, its recent iPhone 13 release is one of the hottest commodities this holiday season. There has already been a shortage of phones announced, especially due to the fact that the ongoing global chip shortage is affecting supply chains. Some industry analysts are wondering whether Apple will be frustrated by the lack of chips and bring all of its manufacturing in-house, like it did with the M1 chips for its Macbook Pro laptops. This would be a bearish sign for the chip sector, particularly for companies like Broadcom which supply the wireless network chips to the phone maker.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD holds lower ground near 0.6350 after weak Aussie jobs data
AUD/USD is holding lower ground near 0.6350 in Asian trading on Thursday. The downbeat Australian jobs data fans RBA rate cut bets, maintaining the downward pressure on the pair. US-China trade tensions and US Dollar recovery act as a headwind for the pair.
USD/JPY stages a solid recovery toward 143.00 on US-Japan trade optimism
USD/JPY holds the impressive rebound from seven-month lows of 141.61, directed toward 143.00 in the Asian session on Thursday. The pair tracks the US Dollar rebound, fuelled by contrstructive trade talks between the US and Japan. A tepid risk recovery also aids the pair's upswing.
Gold price corrects from record highs of $3,358
Gold price retreats from a fresh all-time peak of $3,358 reached earlier in the Asian session on Thursday. Despite the pullback, tariff uncertainty, the escalating US-China trade war, global recession fears, and expectations of more aggressive Fed easing will likely cishion the Gold price downside.
Ethereum face value-accrual risks due to data availability roadmap
Ethereum declined 1%, trading just below $1,600 in the early Asian session on Thursday, as Binance Research's latest report suggests that the data availability roadmap has been hampering its value accrual.
Future-proofing portfolios: A playbook for tariff and recession risks
It does seem like we will be talking tariffs for a while. And if tariffs stay — in some shape or form — even after negotiations, we’ll likely be talking about recession too. Higher input costs, persistent inflation, and tighter monetary policy are already weighing on global growth.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.