NVDA - Why Intel Taiwan Semiconductor and Micron Stocks All Dropped Today
2024-03-19 12:42:00 ET
Nvidia 's (NASDAQ: NVDA) Global Technology Conference 2024 (GTC 2024) kicked off on Monday, full of "sizzle and substance" (said Bank of America ), but also offering "no big surprises" (according to Morgan Stanley ). Investors who had been hoping for more are selling off Nvidia stock modestly today -- down 2.2% through 11 a.m. ET -- on Tuesday morning. And they're not the only ones selling.
Taiwan Semiconductor Manufacturing (NYSE: TSM) stock is also down 2.2% today, and Intel 's (NASDAQ: INTC) off 2.6%. Micron (NASDAQ: MU) , which has been bundling its high bandwidth memory chips along with the artificial intelligence (AI) chips that Nvidia is selling, is suffering a 1.5% sell-off, as well.
There may be two reasons for this.
For further details see:
Why Intel, Taiwan Semiconductor, and Micron Stocks All Dropped Today