Why Nvidia Stock Is Still Falling Today
Shares of semiconductor stock Nvidia (NASDAQ: NVDA) fell for a second straight trading day on Monday, continuing Friday's post-earnings sell-off. But in contrast to last week, when at least some of the bad news about Nvidia came from Nvidia itself, today the news comes from another source entirely: China.
And it's driving Nvidia stock down 2% as of 1:30 p.m. ET on Monday.
Last week, Nvidia spooked the semiconductor market when it announced that second-quarter sales grew only 3% year over year, and earnings collapsed 72% to just $0.26 per share. Worse, Nvidia cut its guidance again, predicting third-quarter sales will come in $1 billion short of expectations at $5.9 billion.
Source Fool.com
