The AI chip giant's market cap has now dropped by almost a fifth this year. Other semiconductor stocks also plunged
“The decline in Nvidia’s stock price has much less to do with company fundamentals and much more to do with macro considerations, namely uncertainty around tariffs and trade policy,” Will Rhind, CEO and founder of GraniteShares told Quartz in an email.
“The company posted very strong Q4 earnings showing they remain at the forefront of the AI technology race.”
He suggested that if trade war discussions are mostly noise, this could be an opportunity to buy Nvidia shares at their lowest valuation in a while.
Marvell Technology’s (MRVL) shares plunged almost 20% after the semiconductor company’s earnings guidance didn’t impress investors.
ON Semiconductor (ON) fell 5.6% after Allegro MicroSystems called “inadequate” ON’s unsolicited acquisition offer of $35.10 a share in cash. Meanwhile, Allegro (ALGM) gained 5.7%, going against the tide.
MongoDB $MDB’s (MDB) shares plunged 27% after the database software company issued weaker-than-expected earnings guidance.
Join 500,000+ readers who start their day with Quartz.
By subscribing, you agree to our Terms of Service and Privacy Policy.
