Nvidia Stock Dropped 4%. Why It's Sitting Out the Chip Rebound
By Elsa Ohlen, Adam Clark, and Mackenzie Tatananni. Nvidia stock declined on Wednesday, even as strong earnings from ASML Holding lifted shares of other chip makers.Shares of Nvidia made a strong 9% comeback Tuesday after a 17% drop on Monday. However, the stock was down 6.6% to $120.47 in Wednesday afternoon trading even after ASML, which makes equipment for the manufacturing of semiconductors, reported stellar earnings. The ASML news helped boost shares of peers including Analog Devices, which was up 0.8%, and Advanced Micro Devices, which gained 3%.Nvidia's decline came as Bloomberg reported that the Trump administration was weighing additional limits on the sale of the company's chips to China. Officials are in early talks to expand restrictions to include Nvidia's H20 chips, the outlet said, citing people familiar with the matter.In a statement to Barron's, an Nvidia spokesperson said the company was ready to work with the administration as it "pursues its own approach" to artific