Why Nvidia Shares Are Diving Today

Shares of semiconductor companies, including NVIDIA Corporation NVDA, are trading lower in sympathy with Micron, which dipped following a downgrade and price target cut from Piper Sandler analysts.

Nvidia shares are also trading lower amid overall weakness in tech names as market indexes are trading lower on continued volatility. While nonfarm payrolls data came in higher than expected Friday, concerns over Fed rate hikes, inflation and economic health continue to weigh on stocks.

See Also: Why Tesla Stock Is Falling Today

Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms.

According to data from Benzinga Pro, Nvidia has a 52-week high of $346.47 and a 52-week low of $155.67.