Fund manager sends blunt message on Nvidia stock before conference
Here's what could happen to Nvidia's stock next.
Wall Street recently has been gravely concerned that high-flying technology stocks are on the cusp of a big reckoning.
After two years of market-trouncing returns, technology stocks have sold off sharply because of worries tied to arguably sky-high valuations and the potential IT budgets will peak.
The market wrecking ball has been indiscriminate. The S&P 500 retreated about 10% from its highs, while the tech-laden Nasdaq 100 tumbled about 13%. The pain has been more significant in big-cap technology stocks like Nvidia.
