Stocks don’t go up in a straight line, and that pertains to the market’s favorite name Nvidia as well! Shares of the chip-maker have fallen into correction territory, dropping by 12% from their November highs. Pros point to several factors for the sell-off, ranging from only an OK third quarter earnings report to signs of new competition from Amazon and Broadcom. Comments from Microsoft CEO Satya Nadella on chip supply have also weighed on Nvidia sentiment. Even still, Nvidia managed to secure the 2024 Product of the Year award for its work with game-changing AI chip Blackwell. Yahoo Finance executive editor Brian Sozzi is joined at the roundtable at the Nasdaq in Times Square by one of Wall Street’s most respected chip analysts, Bofa’s Vivek Arya. Arya has been a long-time bull on Nvidia, giving the company high marks for its leadership in chip design and execution. But despite that bullishness, he hasn’t shied away from urging caution on the stock in key periods for the company. Arya dives into his current thinking on the AI chip darling of the Dow Jones Industrial Average, and offers up a few predictions that will surely garner the attention of the many Nvidia bulls.

Yahoo Finance's Opening Bid, brings you a high-octane take on the freshest analyst calls, wildest stock moves and shrewdest commentary in the business world. Executive Editor Brian Sozzi puts Wall Street's finest through their paces in this essential conversation for every investor - before the stock market opens.

Find this episode's transcripts and more episodes of Opening Bid at http://finance.yahoo.com/videos/series/opening-bid/.

Thoughts? Questions? Fan mail? Email us at yfpodcasts@yahooinc.com.

00:00-Vivek Arya on Opening Bid

03:30-Nvidia's growing pains

09:00-What does Nvidia sell-off mean?

13:30-The full chip landscape

19:12-HOT TAKE

Yahoo Finance's Opening Bid is hosted by Brian Sozzi, and produced by Rachael Lewis-Krisky.

Vivek Arya is a Wall Street analyst for BofA Securities, focused on technology, semiconductors, and AI.

Learn more about your ad choices. Visit megaphone.fm/adchoices