NVIDIA Corporation NVDA 1.76% shares are slumping more than 3.5 percent Monday morning on a weak day for tech stocks.

Pacific Crest analysts were cautious on the stock ahead of Monday’s news. According to the firm, there are three primary reasons for the stock’s weakness:

• 1. There have been signs of excess inventory in the desktop graphics market.
• 2. The stock recently traded at multi-year highs.
• 3. The company’s recent guidance numbers weren’t particularly inspiring.

A large part of Monday’s move may simply be traders taking profits on a stock that has surged 24.8 percent since Election Day.

While Pacific Crest is cautious, other firms remain bullish on NVIDIA.

Jefferies analyst Mark Lipacis recently upped his price target for the Buy-rated stock from $95 to $110. After a meeting with company management, Lipacis now anticipates…

Click here to continue reading

Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!