FILE - A sign for a Nvidia building is shown in Santa Clara, Calif., May 31, 2023. A rebound for Nvidia on Tuesday, June 25, 2024, is helping keep U.S. indexes close to their records Tuesday. FILE - President and CEO of Nvidia Corporation Jensen Huang delivers a speech during the Computex 2024 exhibition in Taipei, Taiwan, June 2, 2024. A rebound for Nvidia on Tuesday, June 25, 2024, is helping keep U.S. indexes close to their records Tuesday.
Market watchers would rather there be more diversification, having concerns seeing just Nvidia and a handful of other companies responsible for much of the S&P 500’s returns recently. They would prefer a market where many stocks are participating in the gains.and the company has played a big role in the U.S. stock market’s recent record runs even as the economy’s growthof high interest rates.
Derren Nathan, head of equity research at Hargreaves Lansdown, said in a statement that while Nvidia’s stock has declined in recent days, one must also look at the bigger picture.