Nvidia Is Down 26% From Its All-Time High -- Here's How Far It Can Fall, Based on Historic Precedent
Though history can't concretely predict the future, it does have an uncanny track record of rhyming on Wall Street, more often than not.
For well over two years, the stock market has been roaring higher, with all three major indexes -- the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite -- reaching multiple record-closing highs.
While select catalysts have played a role in lifting equities, such as stock-split euphoria, better-than-expected corporate earnings, and Donald Trump's November victory, nothing has sustained this rally quite like the emergence of artificial intelligence (AI).
Empowering software and systems with the ability to reason, act on their own, and evolve to learn new skills, gives this technology a seemingly limitless ceiling. Although the analysts at PwC pegged the global addressable market for AI at $15.7 trillion by 2030 in Sizing the Prize, the sky truly is the limit if businesses adopt AI solutions at a high rate and the technology gains mainstream utility across a wide swath of industries.
