Nvidia's stock price fell on Monday, and it has been heavily sold recently and is entering a correction zone. The stock has entered three consecutive declines, with a cumulative decline of 12% in the past three trading days. If it exceeds 10%, it indicates entering a correction zone.
The chip sector has also been dragged down, with AMD computers falling more than 8.6%, Nvidia falling about 6.7%, Arm Holdings and Maywell Technology falling more than 5.7%, Qualcomm falling 5.5%, Broadcom, TSMC, semiconductor ETF SMH, and Asma ADR falling at most 3.7%, semiconductor ETF SOXX falling more than 2.8%, technology industry ETF XLK falling more than 2.4%, Intel falling about 1.7%, Gexin falling more than 1.3%, AMD and Micron Technology falling at most 0.6%, and Silvaco rising about 5.0%. The three-day decline has caused Nvidia's market value to evaporate by over $400 billion, returning to below $3 trillion, lower than the market values of Microsoft and Apple.
On the news, Simona Jankowski, Vice President of Investor Relations and Strategic Financing at Nvidia, has switched jobs and will serve as Chief Financial Officer (CFO) at a startup company. Before joining Nvidia in 2017, Jankowski was also a veteran analyst at Goldman Sachs Group.