This article first appeared on GuruFocus.
Oct 17 – Nvidia (NASDAQ:NVDA) shares edged lower on Friday, even as optimism around artificial intelligence spending remained a key market theme
The broader market also weakened, with the S&P 500 and Nasdaq both trading in the red as investors rotated out of high-growth technology names after a strong run earlier this week.
Nvidia’s decline came alongside broader weakness in semiconductor peers. Micron Technology (NASDAQ:MU) dropped more than 3%, while Advanced Micro Devices (NASDAQ:AMD) slid over 2%, pressured by concerns about elevated valuations across the sector.
Analysts said the pullback appears to be part of a short-term consolidation phase following strong year-to-date gains in AI-related stocks. Nvidia remains one of the market’s top performers in 2025 amid expectations for continued demand in data center and AI accelerator markets.
Nvidia shares were last down about 1% in afternoon trading, while the Nasdaq Composite fell nearly 0.5%.