Nvidia stock has dropped 10.1% from its peak of $236.54 on May 14, entering correction territory. This decline occurred despite the company's strong quarterly earnings report on May 20, an $80 billion share buyback authorization, and a dividend raise.
Huawei announced LogicFolding, a chip architecture approach that stacks computing blocks vertically to reduce data travel distances within the processor, designed to work around U.S. export restrictions. Huawei said it aims to produce semiconductors with performance comparable to 1.4nm chips by 2031, narrowing the gap with TSMC's 2028 target.
Nvidia shares are up 14% year-to-date, trailing peer performance: Intel and Micron have risen 225% to 230%, AMD is up 132%, and the iShares Semiconductor ETF (SOXX) is 87% higher. Retail sentiment on Stocktwits for NVDA dipped to 'bullish' on Wednesday night from 'extremely bullish' the previous day.
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