Shares of Amazon (NASDAQ: AMZN) have fallen hard in the first half of 2022 and are down 32% year to date, according to data provided by S&P Global Market Intelligence. Part of the drop is due to the broader stock market's tumble as investors processed news of rising inflation and interest rate hikes from the Federal Reserve. The e-commerce company reported its first quarterly loss since 2015 and issued disappointing guidance that sent its share price into a downward spiral. Read More...
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Why Nvidia Stock Is Falling Today
The stock of Nvidia (NASDAQ: NVDA) was sliding again today after an analyst cut his price target for the semiconductor company. Piper Sandler analyst Harsh Kumar thinks sales of Nvidia’s GPUs could slide as consumers cut back on spending, cryptocurrency mining slows, and other macro events hurt demand. Kumar said in an investor note, “We revise our estimates downward for NVDA based on continued issues in China and Russia, gaming laptop weakness, consumer pressure, and our concerns on crypto.”
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