Wall Street is rushing to raise price targets on Nvidia
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Despite the current narrative, one bullish Wall Street analyst just doubled their price target on the stock market darling.
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Wall Street eyes a possible culprit in this week’s head-spinning stock market reversal: Bitcoin
Thursday began with a massive rally with the Dow Jones Industrial Average up 700 points, regaining some ground after an earlier AI-related selloff. Upbeat results from retail giant Walmart helped too. But the market suddenly turned lower, and the Dow lost 300 points, leaving Wall Street wondering what the heck happened.
Wall Street stocks slid on Thursday in a sharp reversal from an early rally, as technology gains faded after a boost from Nvidia's earnings and U.S. jobs data muddied the labor market outlook.
There is no doubt that semiconductor stocks have been some of the most direct beneficiaries of the artificial intelligence (AI) revolution. While Nvidia has claimed the top spot in the chip realm, peers such as Broadcom and Taiwan Semiconductor Manufacturing have also earned positions in the trillion-dollar club thanks to AI-driven tailwinds.
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