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Tech stocks sector under pressure: Chip stocks such as Super Micro Computer and NVIDIA are losing significantly
Super Micro shares plunge 23 percent, no preliminary figures released. NVIDIA shares also weighed down. Tech stocks sector under pressure. Find out more here.
Tech stocks sector under pressure: Chip stocks such as Super Micro Computer and NVIDIA are losing significantly
The entire tech sector came under pressure in Wall Street trading on Friday, with chip stocks such as Super Micro Computer and NVIDIA in particular seeing sharp declines. Among other factors, losses in Netflix shares significantly weighed on the technology sector, which fell 9.0 percent. Although the streaming provider reported positive first-quarter results, its revenue outlook for the second quarter was pessimistic.
Super Micro Computer shares fell 23.14 percent to $713.65. Although the company provided a timing for releasing third-quarter results, unlike previous quarters, no preliminary numbers were announced. This caused dissatisfaction among investors. In response, NVIDIA's share price also fell by 10.0 percent to $762.00. In addition, Amazon and Meta Platforms also recorded price losses of 2.56 percent to $174.63 and 4.13 percent to $481.07, respectively.
The developments on the stock market highlight the volatility in the technology sector and the reaction of investors to a lack of information on company results. The uncertainty regarding future sales and profits has a significant impact on price developments, which can lead to significant losses. Investors should therefore closely monitor developments in this sector and adapt their investment strategies if necessary.