Why Nvidia Stock Was Falling Today
Shares of Nvidia (NASDAQ: NVDA) were down 6.3% as of 10:28 a.m. ET on Thursday. For context, the S&P 500 index was down 2.4%.
Following a strong earnings report from graphics chip rival Advanced Micro Devices earlier this week, investors are trying to get a feel for the near-term demand trend in the data center and gaming markets, which are the two largest sources of revenue for Nvidia.
Investors rely on the results from companies in the same industry to get an early read on what to expect ahead of another company's upcoming earnings results. AMD's bullish news on Tuesday gave investors reason to believe that the current demand trends in the semiconductor industry will contribute to another quarter of robust growth for Nvidia.
Source Fool.com
