Jan 08, 2025 (Baystreet.ca via COMTEX) --
Technology stocks follow a seasonal pattern. In January, after the CES 2025 event wraps up, the lack of news led to weak performance for tech firms. In recent years, Nvidia (NVDA) broke this yearly occurrence as it traded steadily higher. Still, after Nasdaq (QQQ) fell by 1.89% to close at 19,489.70 on Tuesday, investors should exercise caution.
In Tuesday's session, Nvidia stock lost 6.22%. Broadcom (AVGO), Arista (ANET), and Dell Technologies (DELL) were notable companies falling on the day. Despite Nvidia CFO Colette Kress reaffirming the company's new AI chip, Blackwell is on track to ship, NVDA stock sold on the news. Regardless, Nvidia's growth trajectory is only expanding. The firm will increase its addressable market through initiatives in the robotics and autonomous vehicle markets.
Nvidia Cosmos is the first physical AI model that robotics manufacturers may build on.
In second place is Advanced Micro Devices (AMD) with its announcement of the next-generation Radeon RX 9070-series GPUs. Unfortunately, the company offered actual specifications to the media. Despite the limited information, Asus announced new TUF Gaming and Prime-series GPU graphics boards. When AMD reveals the price and memory size, it may convince PC gamers to choose its product over that of Nvidia.
COMTEX_461673328/2559/2025-01-08T09:57:33
