Why Nvidia Stock Is Falling Today
The stock of Nvidia (NASDAQ: NVDA) was sliding again today after an analyst cut his price target for the semiconductor company. Piper Sandler analyst Harsh Kumar thinks sales of Nvidia's GPUs could slide as consumers cut back on spending, cryptocurrency mining slows, and other macro events hurt demand.
The tech stock was down 3.5% as of 10:43 a.m. ET today.
Kumar said in an investor note, "We revise our estimates downward for NVDA based on continued issues in China and Russia, gaming laptop weakness, consumer pressure, and our concerns on crypto."
Source Fool.com
