In mid-June, Nvidia became the world’s largest publicly traded company by market capitalization, but its capital has fallen by more than $500 billion in the past three days. As a result, Nvidia took third place in the rankings. he is writing Financial Times.
Nvidia shares are down 16% in the last three days, according to trading results. As a result, Nvidia’s market cap has fallen to $2.9 trillion, a drop of over $500 billion from last week’s peak.
Possible reasons for the decline include company CEO and founder Jensen Huang selling $95 million worth of Nvidia shares at or near the peak. Moreover, these transactions were planned in March this year.
Analysts have varying assessments of the current correction in Nvidia shares. While Stifel representatives believe that price increases may slow down further, Jefferies experts, on the contrary, are optimistic. They believe Nvidia shares can rise to $150 per share.
It was noted that in addition to Nvidia, the prices of the shares of other companies in the sector also decreased. Thus, the price of Broadcom securities fell by 4%, Qualcomm by 5.5%, ARM by 5.8%, and the price of Taiwan Semiconductor Manufacturing Company in the USA by 3.5%.
Apple is once again back in first place in terms of market capitalization. Microsoft and Nvidia took second and third place respectively.
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Source: Gazeta
Jackson Ruhl is a tech and sci-fi expert, who writes for “Social Bites”. He brings his readers the latest news and developments from the world of technology and science fiction.