This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe. Nvidia's shares dived, extending last week's decline, but are still up nearly 140% since the beginning of the year. Thebefore the November election due to political considerations.
Wang has a price target of $200 for Nvidia, representing an almost 70% upside from Monday's close. During an interview with CNBC's"Squawk Box," he outlined. This lack of volatility has been attributed to investor caution, with many sitting on the sidelines concerned that the market and stocks may have already gotten ahead of themselves.
Bank of America chief equity technical strategist Stephen Suttmeier believes there's a lot of cash sitting on the sidelines but investors are concerned we are in an" "I think the market is continuing to run-up because not enough people are on board with it," Suttmeier told CNBC's"" on Monday."We've been staying overbought...and people hate chasing overbought markets, and I think that's the reason overbought markets continue to grind higher."— CNBC's Hakyung Kim, Yun Li, Gabrielle Fonrouge, Samantha Subin, Alex Harring, Jesse Pound, Tanaya Macheel and Spencer Kimball contributed to this report.