NVDA Stock Price: Nvidia drops again as tech weakness continues
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UNLOCK OFFER- NASDAQ:NVDA fell by 3.86% during Tuesday’s trading session.
- The gaming industry is rocked by a massive big tech acquisition.
- TSMC is set to spend $44 billion to upgrade its business around the world.
NASDAQ:NVDA has been battered by the ongoing tech weakness this year as shares have now fallen by 14% since the start of 2022. On Tuesday, shares fell a further 3.86% and closed the trading day at $259.03. It was another bleak day across the broader markets as all three major indices closed lower to start the week. The NASDAQ took a major hit as ten-year treasury bond yields soared higher, leaving the tech-heavy index to extend its decline by 2.6%. Big banks kicked off earnings season on a sour note leading the Dow Jones to tumble by 543 basis points, while the S&P 500 also sank by 1.84%.
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Tech weakness continued on Tuesday despite a major acquisition by Microsoft (NASDAQ:MSFT). Setting a new record price for a tech merger, Microsoft acquired Activision-Blizzard for a cool $68.7 billion in an all cash deal that will see the tech giant emerge as the new leader of the gaming industry. Microsoft insinuated that the acquisition would allow them to move the gaming industry into the Metaverse. Gaming? Metaverse? This seems like a pairing that might be calling upon NVIDIA in the future as the chip maker establishes itself as a leader in the field of enterprise services via its Omniverse platform.
NVIDIA stock forecast
On the fabrication side of the chip industry, a couple of heavyweights are having a contest to see which company can spend the most money on upgrades. Korean giant Samsung and Taiwan Semiconductor (NYSE:TSM) are dedicating $37 billion and $44 billion respectively to upgrade their chip fabrication infrastructure around the world. Samsung recently announced a major production facility in Texas that will cost upwards of $17 billion. Both companies are improving their infrastructure to insure another chip shortage does not happen again anytime soon.
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- NASDAQ:NVDA fell by 3.86% during Tuesday’s trading session.
- The gaming industry is rocked by a massive big tech acquisition.
- TSMC is set to spend $44 billion to upgrade its business around the world.
NASDAQ:NVDA has been battered by the ongoing tech weakness this year as shares have now fallen by 14% since the start of 2022. On Tuesday, shares fell a further 3.86% and closed the trading day at $259.03. It was another bleak day across the broader markets as all three major indices closed lower to start the week. The NASDAQ took a major hit as ten-year treasury bond yields soared higher, leaving the tech-heavy index to extend its decline by 2.6%. Big banks kicked off earnings season on a sour note leading the Dow Jones to tumble by 543 basis points, while the S&P 500 also sank by 1.84%.
Stay up to speed with hot stocks' news!
Tech weakness continued on Tuesday despite a major acquisition by Microsoft (NASDAQ:MSFT). Setting a new record price for a tech merger, Microsoft acquired Activision-Blizzard for a cool $68.7 billion in an all cash deal that will see the tech giant emerge as the new leader of the gaming industry. Microsoft insinuated that the acquisition would allow them to move the gaming industry into the Metaverse. Gaming? Metaverse? This seems like a pairing that might be calling upon NVIDIA in the future as the chip maker establishes itself as a leader in the field of enterprise services via its Omniverse platform.
NVIDIA stock forecast
On the fabrication side of the chip industry, a couple of heavyweights are having a contest to see which company can spend the most money on upgrades. Korean giant Samsung and Taiwan Semiconductor (NYSE:TSM) are dedicating $37 billion and $44 billion respectively to upgrade their chip fabrication infrastructure around the world. Samsung recently announced a major production facility in Texas that will cost upwards of $17 billion. Both companies are improving their infrastructure to insure another chip shortage does not happen again anytime soon.
Like this article? Help us with some feedback by answering this survey:
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