Asian chip stocks slump as Nvidia's slowing revenue growth worries investors [MSNBC.com]
Meta Platforms, Inc. - Class A (META)
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Source: MSNBC.com
Nvidia's headquarters in Santa Clara, California.Justin Sullivan | Getty ImagesAsian semiconductor-related stocks mostly slumped on Thursday after Nvidiareported an earnings forecastWhile Nvidia'sthird-quarter results$142.20 apiece"No matter how good the company does ... if the guide is anything less than the high end of the whisper, you will probably see some selling pressure," Daniel Newman, CEO at the Futurum Group, told CNBC's "Squawk Box Asia" following the report.The sentiment has spilled over to Asia, with stocks tied to Nvidia suppliers as well as other chip companies mostly falling.Semiconductor testing equipment supplierAdvantestJapanese technology conglomerate Softbank Group, which owns a stake in chip designerArmTaiwan Semiconductor Manufacturing CorpTaiwan's Hon Hai Precision IndustryThe company has been a key supplier to Nvidia and is building the world'slargest manufacturing facility in MexicoIn South Korea, SK Hynix started the day with gains before reversing to trade
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