Nvidia, Qualcomm, AMD and other semiconductors decline sharply
Dec. 06, 2021 11:23 AM ETNVIDIA Corporation (NVDA), QCOM, NXPI, AMDINTC, ADIBy: Chris Ciaccia, SA News Editor93 Comments
- Semiconductor stocks like Nvidia (NASDAQ:NVDA), AMD (NASDAQ:AMD), Qualcomm (NASDAQ:QCOM), NXP Semiconductors (NASDAQ:NXPI) and Analog Devices (NASDAQ:ADI) are all down sharply on Monday.
- More than 31 million shares of Nvidia (NVDA) have traded already, against an average daily volume of just over 34 million. Shares are down nearly 6% to $289.26.
- AMD (AMD) is down nearly 6% to $135.45, while NXP (NXPI) is lower by almost 4% to $218.62.
- The decline in the semiconductor stocks is weighing on the broader NASDAQ, which is flat, compared to a 600-point jump in the Dow Jones Industrial Average.
- One notable exception is Intel (NASDAQ:INTC), part of the 30-stock Dow Jones, as shares are tacking on nearly 3% to $50.65.
- NVIDIA (NVDA) has extended its recent weakness, as investors believe there is a diminished likelihood that the company can close its proposed $40B ARM acquisition. Last week, the U.S. Federal Trade Commission sued to block the deal, saying it would stifle "the innovation pipeline for next-generation technologies."