Will the selloff in Nvidia, chip stocks extend?

Thursday marked a challenging day for much of the tech sector, particularly semiconductors. The popular Philadelphia Semiconductor Index dropped 350 basis points, with well-owned and favored stocks falling 4-6% without any significant events.

The bigger question that now looms, according to analysts at Mizuho, is the impact of the upcoming PPI data release at 8:30 am ET. If it comes in weaker, it might trigger further rotation out of semiconductors and tech. The broader sell-off and rotation out of semiconductors yesterday could be a preview of what's to come when Nvidia (NASDAQ:"Yes, that day will eventually happen. Trust me on that. No clue how soon and what quarter. Not likely in CY24, or even early CY25 in my view,” analysts at Mizuho added.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: S&P500 clinches record high; Nvidia now most valuable companyStock Market Today: S&P500 clinches record high; Nvidia now most valuable company
Source: Investingcom - 🏆 450. / 53 Read more »

10 things to watch in the stock market Tuesday including Nvidia price-target hikesMay retail sales came in weaker than expected. Meanwhile, Apple and Nvidia received price-target increases from analysts.
Source: CNBC - 🏆 12. / 72 Read more »

Nvidia stock down, set to shed $65 million in market capNvidia stock down, set to shed $65 million in market cap
Source: Investingcom - 🏆 450. / 53 Read more »