A drop in PC shipments is coming for the chip market.
Nvidia (NVDA) closed the most recent trading day at $151.30, moving +1.11% from the previous trading session.
Semiconductor stocks have been down in the dumps this year amid the broader stock market sell-off, and it now appears that a potential slowdown in chip demand is going to further weigh on the sector. The PHLX Semiconductor Sector has already shed close to 40% of its value in 2022. Not surprisingly, high-flying chipmakers Nvidia (NASDAQ: NVDA) and Micron Technology (NASDAQ: MU), which were enjoying a terrific run on the stock market until last year, have witnessed a brutal sell-off this year.