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Tuesday, June 18, 2024

Nvidia stock exposed as $5 billion in orders face cancellation risk

Nvidia stock exposed as $5 billion in orders face cancellation risk

By Vahid Karaahmetovic, Finbold

So far in 2023, Nvidia (NASDAQ: NVDA) experienced a phenomenal surge in both sales and stock market performance, attributing its success to its pivotal role in the ever-expanding artificial intelligence (AI) sector. 

However, recent weeks have seen the company’s stock relinquish some of its remarkable gains, as broader tech stock sell-offs have been triggered by challenging market conditions. Factors such as increasing Treasury yields, soaring interest rates, European recession concerns, and escalating tensions in the Middle East have all contributed to this setback. 

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