Nvidia, TSMC Enter Correction Amid Weakening Demand and Tech Recovery Concerns
Chip stocks like Nvidia and TSMC have faced significant declines as they enter technical corrections. TSMC's financials were impacted by weakening demand and a slow tech recovery. Nvidia saw a sharp drop, erasing billions in market cap, amid concerns over chip market outlook.
Sources
Sunchartist$SMCI -22% the H&S reversal playing out https://t.co/Pq8nRlP2HR
The Transcript
SMCI to announce its Q3 FY 24 results on Tuesday, 30th April 2024. $SMCI: -23% today. https://t.co/PuESUZOKyk
The Kobeissi Letter BREAKING: The Magnificent 7 stocks have erased $400 BILLION of market cap today alone. Nvidia, $NVDA, accounts for HALF of today's losses with a $200 billion downswing in market cap. The S&P 500 is just 4% away from entering correction territory. What's happening with big… https://t.co/lvfFRTb5ze
