Wednesday’s release has significant consequences to many investors
) stock? Anyone with an S&P 500 index fund is hoping to get an answer to that weighty question next week
The problem, critics say, is such stellar growth has set off too much euphoria among investors. Through the year’s first six months, Nvidia’s stock soared nearly 150%. At that point, the stock was trading at a little more than 100 times the company’s earnings over the prior 12 months. That’s much more expensive than it’s been historically and than the S&P 500 in general.
Nvidia’s slide helped drag the S&P 500 down nearly 10% from its all-time high set last month. On some days, the S&P 500 fell even though the majority of stocks across Wall Street were rising. Drops for Nvidia and other influential Big Tech stocks on those days simply overwhelmed everything else. Alphabet ‘s stock dropped even though it delivered both profit and revenue that topped analysts’ forecasts, a signal of just how difficult it would be for its stock to rally further.
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