NVIDIA's stock has been dropping steadily in the last couple of weeks as enthusiasm about the company's roadmap is fading. Optimism drove the company's stock price from less than $15 to over $25 between December and mid-February, a high not seen since early 2008. However, as investors increasingly worry about the competition, NVIDIA shares have retracted to $18.68 at press time.
Nvidia repeated a promise to hustle out a new quad-core mobile processor this year, dubbed Kal El, to attack the tablet market broken open by Apple’s iPad.
Chief Executive Jen-Hsun Huang outlined efforts to tackle the market for everything from supercomputer chips to smart phone processors at the company’s annual analyst day at its Santa Clara, California headquarters.
Shares fell 4.49%, however, as investors fretted about competition from Qualcomm, Texas Instruments and others.