Nvidia Slips Below $200 After Qualcomm's $15B Data-Center Revenue Forecast
NVDA•Nvidia shares slid below $200 as competition concerns rose following Qualcomm's forecast of $15B in new data center revenue. The iShares Semiconductor ETF climbed over 1% after Micron’s Q3 beat, even as higher Treasury yields threaten premium valuations for growth-centric Nvidia.
1. Nvidia Shares Slip Below $200
Nvidia shares dipped below $200 on June 25 after Qualcomm forecast $15 billion in new data-center revenue, intensifying worries about competition for Nvidia’s core AI chip business.
2. Sector Boost From Micron’s Blowout
The iShares Semiconductor ETF rose more than 1% following Micron’s Q3 results, highlighting strong demand for memory and storage amid accelerating AI capital spending.
3. Rising Treasury Yields Threaten Premium Valuations
Meanwhile, the 10-year Treasury yield climbed, undercutting premium valuations of growth-focused companies and adding pressure on Nvidia’s future earnings multiples.
