Artificial intelligence chip stocks NVIDIA Corporation (NASDAQ:NVDA) continues to rise in 2024 as the AI boom shows no signs of slowing down, with shares up 167% year to date.
Technology investor James Anderson predicts Nvidia will be worth $50 trillion by 2025. Over the next 10 years.
But in the second quarter, Nvidia saw DNB Asset Management make significant adjustments to its holdings in large U.S.-traded technology companies.
DNB reduced its holdings in Nvidia despite the company’s strong share price, while Apple (NASDAQ:AAPL) and Tesla (NASDAQ:TSLA) has been struggling in the market, but Barron’s Reports.
In addition, DNB: Intel (NASDAQ:INTC) DNB manages approximately $88 billion in assets.
DNB’s share adjustment comes at the same time as reports that France’s competition authority is investigating Nvidia for suspected anti-competitive practices.
Nvidia could face charges depending on the outcome of the investigation, agency director Benoit Coeure told Reuters at a press conference.
NVIDIA Facing skepticism Aswath Damodran, a professor at New York University’s Stern School of Business, has repeatedly said in recent months that the company’s shares are overvalued.
In March, he looked back at past predictions that hadn’t come true, suggesting that either he or the market had been mistaken.
Despite Nvidia’s leadership role in AI, Damodran warned that achieving profitability may be more complicated than thought.
Investors can invest in Nvidia in the following ways: Vanguard Information Tech ETF (NYSE:VGT) and iShares S&P 500 Growth ETF (NYSE:IVW).
Price Action: NVDA shares were up 0.02% at last check on Tuesday, trading at $128.46 in pre-market trading.
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