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Nvidia (NVDA) stock’s meteoric rise seems to have hit a roadblock. Despite delivering an exceptional Q3 performance that surpassed Wall Street’s expectations, NVDA stock has been on a downward trajectory. Since announcing its Q3 results, the stock has fallen about 12%, extending its decline to approximately 15% from its 52-week high of $152.89.
This pullback reflects Nvidia’s slightly underwhelming Q4 revenue guidance, which fell short of analysts' forecasts. Adding to investors' concerns are shrinking margins and growing apprehension about the sustainability of the artificial intelligence (AI) spending surge that has fueled Nvidia’s meteoric rise.
