WDC - Nvidia Marvell lead chip makers lower as markets sell-off on Russia fears

Semiconductor stocks largely sold off on Thursday, as Nvidia (NASDAQ:NVDA) reported results that beat expectations, but concerns popped up about margins, as well worries over escalating tensions between Russia and Ukraine. Though Russia has claimed that it has pulled back thousands of troops from the Ukraine border, American intelligence has shown the opposite, with the Biden administration saying publicly that there is a "very high risk" that an attack could come any day. Nvidia shares fell nearly 8% to after it said GAAP and non-GAAP margins for the first-quarter would be 65.2% and 67%, respectively, plus or minus 50 basis points.  Bank of America analyst Vivek Arya, who reiterated his buy rating and $375 price target, noted that gross margins guidance was flat likely due to the fact that "mix in other segments (gaming) while data [center] mix will actually improve." Other chipmakers fell in sympathy, with Marvell Technologies (NASDAQ:MRVL) down nearly 5%,

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Nvidia, Marvell lead chip makers lower as markets sell-off on Russia fears