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Why Nvidia Stock Moved Lower on Monday
Seesawing semiconductor stock Nvidia (NASDAQ: NVDA) moved lower ahead of its expected Wednesday-evening earnings report, falling 2.1% through 10:55 a.m. ET on Monday (although it's back in the green now at midday). Two separate analysts lowered their price targets for Nvidia ahead of the report, with UBS cutting the shares to $280 and Bernstein predicting a $225 target price. Both analysts pointed to worries about falling demand for GPUs in the gaming segment as the reason for their cuts, reports TheFly.com, although UBS said demand probably won't “fall off … quite yet” — referring to Nvidia's Q1 results.
