The news media is too focused on small moves in Nvidia (NVDA) stock when it should be considering longer-term trends, a Wall Street analyst says.
“Does it feel like the press/media talk and write about the daily stock moves in Nvidia a wee bit too much? Like they believe there is always some new story or trend behind every move up or down,” Jordan Klein, a trading desk analyst with Mizuho Securities, said in a client note Wednesday.
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Klein called the relentless press coverage “myopic and silly.” He singled out The Information for its stream of negative articles about supposed Nvidia product delays or design problems.
Nvidia stock spiked to a record high of 153.13 on Jan. 7 on excitement over a keynote speech by Nvidia Chief Executive Jensen Huang at CES 2025. But then it sold off in a classic “buy the rumor, sell the news” fashion.
From its all-time high at the start of CES to Tuesday’s close, Nvidia stock was down 14%. But the news media “makes it feel like a 25% sell-off the way they talk it up, highlighting stock decline now puts it in ‘correction territory.'”
“If you remove the CES spike into low $150s, NVDA would have likely been at $140 range, hence this week decline or sell-off to $130 would be more like 5%-6%. Nothing to even talk about,” Klein said.
He added, “Keep in mind that Nvidia stock has basically traded sideways around $135-$140 for three straight months. So the press and media need to calm down. Since mid-October, Nvidia stock is flat.”
Nvidia Stock Tries To Rebound
In afternoon trades on the stock market today, Nvidia stock climbed 2.6% to 135.22. Heading into Wednesday, Nvidia stock had fallen for five straight trading sessions.
Klein said the daily news tidbits are just “noise.” What matters most for Nvidia stock will be what hyperscale cloud customers say in the coming weeks about their 2025 capex spending plans.
The Nvidia stock gyrations in recent weeks are not surprising for such a high-profile company tied to the artificial intelligence megatrend, he said.
“I just met with Nvidia in Las Vegas last week and they did not sound incrementally worried or challenged,” Klein said.
The AI chipmaker is scheduled to report its fiscal fourth-quarter results on Feb. 26.
Nvidia stock is on three IBD stock lists: Leaderboard, Sector Leaders and Tech Leaders.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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