TECH - What's Going On With Nvidia and AMD Stocks On Monday? | Benzinga
Nvidia Corp (NASDAQ:NVDA) and Advanced Micro Devices, Inc (NASDAQ:AMD) stocks see some redemption on Monday after a selloff Friday.
Last Friday, Nvidia faced its worst session since March 2020, losing over $200 billion of its market value.
Stocks recording windfall gains thanks to the artificial intelligence frenzy, like AMD, also lost close to 6% in stock value.
Investors grew wary of the U.S. Federal Reserve’s rate cuts fueled by retaliatory strikes between Iran and Israel, the Financial Times reports.
Also Read: Intel and AMD hit by China’s move to eliminate foreign tech, raising stakes for US chipmakers
Nvidia’s stock price decline accounted for almost half the 0.9% fall in Wall Street’s S&P 500.
Interestingly, Oppenheimer analyst Rick Schafer noted few companies are positioned to materially raise estimates this earnings season as global macro and ...