Nvidia (NASDAQ:NVDA), the provider of AI accelerators, GPUs, and high-performance networking chips, closed at $181.60, down 9.26%. Investors were selling AI and chip names as election-related uncertainty and demand worries intensified, and they are watching the Nov. 17 quarterly update.
Trading volume reached 300.4 million shares, coming in about 157% above its three-month average of 116.7 million shares. Nvidia IPO’d in 1999 and has grown 442,644% since going public. <\/p>\n
How the markets moved today <\/p>\n
The S&P 500 (SNPINDEX:^GSPC) fell 4.36% to 7,354, and the Nasdaq<\/a> Composite (NASDAQINDEX:^IXIC) dropped 5.52% to 24,315. Among makers of semiconductors and networking and compute platforms, Advanced Micro Devices closed at $404.40, down 17.26%, and Broadcom closed at $291.53, down 10.43%, underscoring the broad AI-chip sell-off. <\/p>\n What this means for investors <\/p>\n Today, Nvidia shares sank alongside other AI chipmakers as investors rotated away from the group; the move reflected skepticism about demand and policy uncertainty rather than company-specific news. While AMD and others continue to suggest that data center-related demand remains strong, the midterm election results have market watchers wondering if that could soon change. <\/p>\n Investors should remember, though, that buyers of Nvidia’s products span the country and the globe. The company has said it expects sales to jump another 70% in the next fiscal year, and it would be higher without supply constraints. Nvidia’s stock<\/a> is now at its lowest level since April and is down 2.5% year to date. It looks to be a compelling buy around these levels. <\/p>\n Should you buy stock in Nvidia right now? <\/p>\n Before you buy stock in Nvidia, consider this: <\/p>\n The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks<\/a> for investors to buy now\u2026 and Nvidia wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. <\/p>\n Consider when Netflix made this list on December 17, 2004… if you invested $1,000 at the time of our recommendation, you’d have $358,037!* Or when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $1,229,708!* <\/p>\n Now, it’s worth noting Stock Advisor’s total average return is 897% \u2014 a market-crushing outperformance compared to 211% for the S&P 500. Don’t miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. <\/p>\n