NVIDIA Corporation (NASDAQ:NVDA) shares are trading lower by 3.49% to $152.88 Monday afternoon. Shares of semiconductor companies at large are trading lower amid overall market weakness as stocks pull back following last week’s strength. Economic uncertainty has weighed on the demand outlook for semis.
Nvidia shares were otherwise trading higher last week in sympathy with Samsung, which reported a preliminary 21% increase in quarterly revenue.
Samsung’s better-than-expected sales can be seen as a lift to the broader semiconductor space which has otherwise been trading lower amid overall market weakness. The tech sector has been under pressure amid the ongoing Fed rate hike policy, which has weighed on growth stock valuations.
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According to data from Benzinga Pro, Nvidia has a 52-week high of $346.47 and a 52-week low of $140.55.
