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<ul>
 <li>Nvidia stock dropped 14% in a week, impacting tech and crypto markets, with Bitcoin falling 9% and AI coins down 15%.</li>  
 <li>Fundstrat's Tom Lee sees Nvidia’s correction as a potential buying opportunity, with a projected target of $165 from Bank of America.</li>  
 <li>Nvidia faces volatility with a $406 billion market cap loss and a DOJ antitrust probe, while the stock has swung between $90 and $130 in 30 days.</li> 
</ul>  
<p>On Friday August, 2024, there was more than 4% decline in Nvidia's stock price, which brought it down to $102.83. The stock has experienced a notable 14% decline over the last week, which has caused tremors in the larger tech sector.&nbsp;</p>  
<p>Consequently, the cryptocurrency market has become volatile as a result of this decline, with Bitcoin and a number of other altcoins going through a significant correction phase. Investors are concerned about Nvidia's <a href="https://cryptonewsland.com/nvidia-earnings-call-triggers-significant-stock-decline/" target="_blank" rel="noopener noreferrer nofollow">recent</a> performance because the company's market capitalization has dropped by $406 billion.</p>  
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<h2 class="wp-block-heading" id="h-analyst-views-on-the-nvidia-stock-correction"><strong>Analyst Views on the Nvidia Stock Correction</strong></h2>  
<p>Despite the significant decline, Fundstrat analyst Tom Lee was upbeat about Nvidia's future when he appeared on CNBC's Closing Bell. According to Lee, in its ten years of existence, Nvidia has seen eight declines of more than 30%. He emphasized that Nvidia's price-to-earnings ratio usually rises following these corrections.&nbsp;</p>  
<p>Furthermore, Lee believes that the stock's PE ratio is within a comfortable range in the mid-20s. According to him, the current market decline is a phase of profit-taking, and the stock may fall as low as the 90s before rising again.&nbsp;</p>  
<p>Additionally, with a four-year outlook, Lee suggests that investors might want to consider this as a good buying opportunity. A target price of $165 for Nvidia has been set by other analysts, including those from Bank of America, who also have a positive outlook.</p>  
<h2 class="wp-block-heading" id="h-impact-on-the-crypto-market-and-future-outlook"><strong>Impact on the Crypto Market and Future Outlook</strong></h2>  
<p>Notably, the tech sector has not been the only one affected by Nvidia's stock correction. The performance of major tech stocks has a direct impact on the cryptocurrency market, which has responded sharply. Last week, Bitcoin fell by 9%, while other cryptocurrencies connected to artificial intelligence fell by 15%.</p>  
<p>According to Rekt Capital analysis, Bitcoin may drop even lower, to about $49,000. A resurgence in Nvidia's shares may trigger a comparable upswing in the cryptocurrency market overall, especially in the AI coin space. Due to its involvement in the cryptocurrency and artificial intelligence industries, Nvidia's stock price fluctuations are important indicators for these markets.</p>  
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  https://twitter.com/rektcapital/status/1832128547839975678
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<h2 class="wp-block-heading" id="h-regulatory-scrutiny-adds-to-volatility"><strong>Regulatory Scrutiny Adds to Volatility</strong></h2>  
<p>Notably, the U.S. Department of Justice recently launched an antitrust investigation into the chipmaker, adding to Nvidia's difficulties. Nvidia has acknowledged that it did not receive a formal subpoena, but it has stated that it is willing to work with authorities should any more questions come up.&nbsp;</p>  
<p>Therefore, this regulatory scrutiny has increased Nvidia's stock volatility, which has fluctuated between $90 and $130 in the last 30 days. With uncertainty still hanging over the tech and cryptocurrency sectors, the stock has performed worse over the last two weeks compared to the previous two years.</p> 
<p>The post <a href="https://cryptonewsland.com/fundstrat-analyst-predicts-end-of-nvidia-stock-decline-hints-at-crypto-market-recovery/" rel="noopener noreferrer nofollow">Fundstrat Analyst Predicts End of Nvidia Stock Decline, Hints at Crypto Market Recovery</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Fundstrat Analyst Predicts End of Nvidia Stock Decline, Hints at Crypto Market Recovery

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