Daily Scoop🍨: Nvidia (NVDA) Comes Out Fighting Tooth And Nail
Nvidia (NASDAQ:NVDA) shares extended their losses Thursday, shedding nearly 3%, following a 7% drop the previous session after the U.S. imposed fresh restrictions on AI chip exports to China. The two-day selloff has erased around $266 billion in market capitalization, pulling Nvidia's valuation down to about $2.47 trillion.
Warning! It's time to buy NVDA and fight tooth and nail against the trends as the only way is up now !
The U.S. government's move, targeting Nvidia's H20 chips, blocks sales to Chinese firms such as ByteDance and Alibaba (NYSE:BABA). As a result, Nvidia now expects a $5.5 billion hit to first-quarter revenue due to halted deliveries.
UBS Group (NYSE:UBS) has revised its outlook, cutting its price target to $180 from $185. The firm slashed its gross margin forecast to 5859% for the April quarter, citing elevated tariff costs. UBS projects a revenue shortfall of US$700 million this quarter and up to US$8 billion more through the next two quarters.
Nvidia is also delaying chip upgrades, opting to stick with its current Bianca design, citing issues with a newer Cordelia version.
Shares of the chip company were down more than 10% over two days, placing the stock among the S&P 500's worst performers for the week.
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Right now NVIDIA fighting for its life .. trying to hold on to the critical $100