Tech Stocks Tumble On AI Nightmare, Nvidia Eyes Worst Day Since March 2020, Bitcoin Drops Below $100,000: What's Driving Markets Monday?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 27 2025
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Source: Benzinga
Tech Stock Selloff: A significant selloff in tech stocks occurred, driven by fears of increased AI competition after China's DeepSeek launched a large language model platform outperforming ChatGPT, resulting in the Magnificent Seven stocks losing about $600 billion in market value.
Market Reactions: The Nasdaq 100 dropped 3%, with major chipmakers like Nvidia and Broadcom experiencing severe losses; investors shifted to safer Treasury assets as Bitcoin's market cap fell by $110 billion amid risk-off sentiment.
Analyst Views on QQQ
Wall Street analysts forecast QQQ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QQQ 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: 620.760
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Current: 620.760
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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.
