Why NVIDIA Shares Are Getting Hammered Today
Portfolio Pulse from Aaron Bry
NVIDIA Corp (NASDAQ:NVDA) shares dropped over 5% amid a broader semiconductor sector sell-off, with investors taking profits ahead of its earnings report. ARM Holdings (NASDAQ:ARM) and Super Micro Computer (NASDAQ:SMCI) also saw declines. Globalfoundries Inc (NASDAQ:GFS) and Intel Corp (NASDAQ:INTC) traded higher, buoyed by news of government funding. NVIDIA received bullish analyst coverage from Loop Capital and Rosenblatt with high price targets.
February 20, 2024 | 3:52 pm
News sentiment analysis
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POSITIVE IMPACT
Globalfoundries Inc shares traded higher following news of $1.5 billion in new government funding.
The increase in Globalfoundries Inc shares is directly related to the positive news of receiving government funding, indicating a short-term positive impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Intel Corp shares increased amid speculation of receiving government funding.
Intel Corp's share increase is fueled by investor speculation about potential government funding, suggesting a short-term positive impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
ARM Holdings shares declined amid a broader semiconductor sector sell-off.
ARM Holdings experienced a decline as part of the overall weakness in the semiconductor space, indicating a short-term negative impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
NVIDIA shares fell over 5% due to profit-taking ahead of its earnings report, despite bullish analyst coverage.
The sell-off in NVIDIA shares is attributed to investors locking in profits before the earnings report, despite positive analyst expectations, indicating a short-term negative impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Super Micro Computer shares dropped as part of the semiconductor sector's overall weakness.
Super Micro Computer's share decline is linked to the broader sell-off in the semiconductor industry, suggesting a short-term negative impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70