Share prices of two prominent chip manufacturing companies, Taiwan Semiconductor Manufacturing Company and ASML Holding, have decreased in anticipation of Nvidia’s upcoming earnings report.
Nvidia, known for designing artificial intelligence chips, is set to reveal its fourth-quarter earnings after the close of the US market on Wednesday. Investors on Wall Street will closely examine the remarks of Nvidia’s CEO, Jensen Huang, for insights into the sustainability of the company’s impressive growth trajectory.
On Tuesday, Nvidia’s stock declined by 4.35%, triggering a broader downturn in US technology stocks, with ARM Holdings experiencing a 5.12% decrease.
Meanwhile, Taiwan Semiconductor Company, a leading producer of advanced processors serving clients like Nvidia and Apple, also saw its shares decline by more than 1% on Wednesday.
ASML, a Dutch semiconductor equipment supplier traded on the Nasdaq, similarly closed lower on Tuesday with a 2.09% drop.
The company supplies crucial machinery for chip production to firms like the Taiwanese semiconductor giant. Additionally, other Taiwanese semiconductor firms witnessed declines, as United Microelectronics Corporation’s stock fell by 0.91% and MediaTek’s by 0.31% on Wednesday.
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