The shares of chipmakers have been pummeled this year amid soaring interest rates and concerns about slowing economic growth that could threaten to leave semiconductor companies saddled with excess inventories. Other decliners included Micron Technology Inc.
and Marvell Technology were among stocks that fell more than two per cent in postmarket trading after Nvidia’s outlook, which the company blamed on Chinese supply chain problems and the war in Ukraine.
Nvidia Corp.’s disappointing quarterly revenue forecast sent the stock down as much as 10 per cent, and dragged down the shares of other large chipmakers with it.Īdvanced Micro Devices Inc.
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