What's Going On With NVIDIA's Stock Today?
Portfolio Pulse from Aaron Bry
NVIDIA Corporation's stock (NVDA) traded down over 2% ahead of its earnings report, while the broader semiconductor space may be under pressure after Analog Devices (ADI) issued a soft Q3 outlook. NVIDIA's report could impact other semiconductor stocks such as Taiwan Semiconductor Manufacturing (TSM) and Advanced Micro Devices (AMD). The VanEck Semiconductor ETF (SMH) is up over 25% YTD.
May 24, 2023 | 4:18 pm
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NEUTRAL IMPACT
NVIDIA's earnings report could impact other semiconductor stocks such as Advanced Micro Devices (AMD).
NVIDIA's earnings report could have a ripple effect on other semiconductor stocks, including AMD. Depending on the results, AMD's stock price may be affected in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
The VanEck Semiconductor ETF (SMH) is up over 25% YTD, but may be impacted by the broader semiconductor space's performance.
The VanEck Semiconductor ETF (SMH) has performed well YTD, but its performance may be impacted by the broader semiconductor space, including the soft Q3 outlook from Analog Devices and NVIDIA's earnings report.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
NVIDIA's earnings report could impact other semiconductor stocks such as Taiwan Semiconductor Manufacturing (TSM).
NVIDIA's earnings report could have a ripple effect on other semiconductor stocks, including TSM. Depending on the results, TSM's stock price may be affected in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Analog Devices issued a soft Q3 outlook, which may put pressure on the broader semiconductor space.
Analog Devices' soft Q3 outlook could negatively impact the broader semiconductor space, including its own stock price, as investors may be concerned about the company's performance and the industry's outlook.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NVIDIA's stock traded down over 2% ahead of its earnings report, potentially impacting its short-term stock price.
NVIDIA's stock is down ahead of its earnings report, which could lead to short-term price fluctuations depending on the results. The broader semiconductor space is also under pressure, which may further impact NVIDIA's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100