Nvidia Corp. executives will likely need to deliver a surprise at the chipmaker’s annual AI conference that begins Monday to spark a rally in the moribund stock.
The four-day event, called GTC, comes after six months in which the shares have essentially treaded water amid concerns that Nvidia’s rapid revenue growth is peaking. Not even a banner earnings report last month was good enough to impress investors, as the shares fell 5.5% the following day.
“The event could be directionally bullish, but Nvidia is so large and closely tracked that it is hard to imagine what kind of thesis-breaking news could come as a surprise,” said Clayton Allison, portfolio manager at Prime Capital Financial, which has about $40 billion in assets.
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The post Nvidia Event Needs a Surprise to Jolt Stock Out of Its Slumber appeared first on Prime Capital Financial.
