Shares of semiconductor and chip stocks are trading lower. The sector may be under pressure as SMCI falls following a short report and delay in its 10-K. NVIDIA is expected to report quarterly earnings after the close.
Portfolio Pulse from Benzinga Newsdesk
Semiconductor and chip stocks are experiencing a downturn. SMCI's shares are falling due to a short report and a delay in its 10-K filing. NVIDIA is set to release its quarterly earnings after market close.
August 28, 2024 | 2:53 pm
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NEGATIVE IMPACT
SMCI shares are declining due to a negative short report and a delay in filing its 10-K, which raises concerns about the company's financial transparency.
The short report and delay in the 10-K filing are significant negative signals, likely causing investor concern and leading to a drop in SMCI's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
NVIDIA is expected to report its quarterly earnings after the market closes, which could influence its stock price depending on the results.
The anticipation of NVIDIA's earnings report creates uncertainty. The impact on the stock price will depend on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70