Investor sentiment and market speculation are currently driving NVIDIA's stock movement, despite the absence of significant news. Discussions on Reddit reveal mixed opinions, with some users expressing concerns over NVIDIA's competitive position as companies like Apple and Amazon shift towards custom chips. However, optimism remains, with users highlighting NVIDIA's comprehensive platform and potential growth in its automotive division, which saw a 72% y/y revenue increase in Q3. This optimism is tempered by concerns about NVIDIA's dominance in the AI sector, as competitors develop their own solutions.
The Direxion Daily NVDA Bull 2X Shares (NVDU) experienced a decline, dropping 2.98% to $89.26 as of 7:20 AM on Tuesday, December 17.