NVIDIA Corporation (NVDA) has Gapped Down by 2.29% on 12.5M Volume Today

Here are some reasons it may have gapped Down:

1) Weak Earnings Forecast: NVDA’s preliminary Q3 2024 earnings report released after the market closed on December 8th indicated a slowdown in revenue growth and lower-than-expected margins.
2) Declining Demand for Gaming GPUs: With the release of next-generation consoles from Sony and Microsoft, demand for high-end gaming GPUs may have softened, impacting NVDA’s revenue stream.
3) Increased Competition: Growing competition from AMD and Intel in the GPU market may have put pressure on NVDA’s market share and pricing power.]

News Headlines (Last 5 Days):

December 8, 2024: NVIDIA Cautions on Weak Q3 Earnings, Shares Gap Down
December 7, 2024: AMD Unveils New GPU Architecture, Targeting NVIDIA’s Dominance
December 6, 2024: Sony and Microsoft Confirm Next-Gen Consoles to Feature AMD GPUs
December 5, 2024: Intel Plans Aggressive Expansion into Discrete GPU Market
December 4, 2024: Analyst Downgrades NVDA on Concerns Over Gaming GPU Demand

Additional Information:

Short Interest: 1.5%
Analyst Ratings: 6 Buy, 3 Hold, 1 Sell
Technical Factors: The stock has broken below its 50-day moving average and is approaching its 200-day moving average.”