Nvidia ETFs Take Center Stage As Bears, Bulls Duke It Out With 8%-14% Swings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 18 2024
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Source: Benzinga
- Market Performance: U.S. stocks were affected by concerns over rising interest rates and a wave of corporate earnings reports.
- Index Movements: The S&P 500 closed down about 0.6%, Dow Jones Industrial Average had a more modest loss of 0.1%, and the Nasdaq Composite plunged over 1%.
- Tech Sector Impact: Tech giants like Nvidia and Meta Platforms saw declines, with the Technology Select Sector SPDR Fund being the worst-performing segment in the S&P 500.
- ASML Holding NV: Shares of the Dutch semiconductor equipment giant dropped over 7% after missing order estimates despite strong sales to China.
- Investor Focus: Investors are anticipating fallout from Taiwan Semiconductor Manufacturing Co Ltd's earnings report and are closely watching Nvidia-focused ETFs amid market uncertainty and potential interest rate hikes.
Analyst Views on SOXS
Wall Street analysts forecast SOXS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SOXS is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 1.960
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Current: 1.960
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
