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Technology Stocks : NVIDIA Corporation (NVDA)
NVDA 196.18+4.2%10:21 AM EST

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From: Frank Sully1/18/2022 8:32:45 AM
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NVDA Stock Price: Nvidia halts production of its latest GPU in unexpected news

1/18/2022

By Stocks Reporter
  • NASDAQ:NVDA has fallen by 10.55% so far in 2022.
  • NVIDIA halts production of its RTX 3090 Ti GPU and might delay its release.
  • NVIDIA is getting into the autonomous freight truck industry.
NASDAQ:NVDA was one of the hottest stocks during the calendar year of 2021, but so far in 2022 it has been a bit of a dud. Shares of NVIDIA are down by 10.55% since the calendar flipped over, as growth names have been victim to the ongoing tech sell off. It’s not that anything about its underlying business or long-term forecast has changed though. NVIDIA is still releasing a wide range of products across all of the hot new tech industries including the Metaverse, artificial intelligence, and gaming. The price multiple has gotten away from the stock a bit, which is likely why analysts and investors are targeting other laggards in the semiconductor industry.

NVIDIA has reportedly stopped production of its RTX 3090 Ti GPU chips over the weekend and could also potentially be delaying its release to consumers. The chip was just announced at the recent CES 2022 expo in Las Vegas, but it seems that the product is already temporarily being halted. Its entry-level GPU, the RTX 3050, is still set to be released at the end of January so it doesn’t seem like this model’s production was affected.

NVIDIA stock forecast



Also unveiled at the CES 2022 Expo, NVIDIA is partnering with a company called TuSimple (NASDAQ:TSP) to produce self-driving freight trucks. Autonomous and electric trucks have been making headlines lately as the oft overlooked segment of electric vehicles is coming to the forefront. Tesla (NASDAQ:TSLA) is supposedly shipping out its first Tesla Semis this month, while Rivian (NASDAQ:RIVN) has been a popular name on the stock market over the past few months.

fxstreet.com
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