12:14 - 31.07.2024

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July 31, Fineko/abc.az. Nvidia’s shares are showing their worst monthly performance in almost two years, down 15.2%, which is the largest drop since September 2022. During this period, Nvidia's shares fell only six times. The decline in Nvidia shares this month exceeded the fall in the PHLX Semiconductor index by 10%.

ABC.AZ reports that Nvidia’s shares, which were traded around $105 on Tuesday, "are moving towards the test of $100 mark," said Mizuho analyst Jordan Klein. He believes that the current decline in the technology market was necessary because stocks were overvalued.

Investors are waiting for reports from large technology companies this week. The questions will relate to growth potential of investments in artificial intelligence and impact of capital expenditures on margins.