Nvidia Stock Strengthens Major Support on the Chart

Nvidia Stock Strengthens Major Support on the Chart

Nvidia, (NVDA) The graphics chip specialist has been struggling this year.

The stock made new 52-week lows on Friday, down 64% from the 52-week high it hit in November.

To put it mildly, it was not a good extension for the stock. To be sure, the Santa Clara, Calif., company is not alone.

Semiconductor Taiwan (TSM) and Advanced Micro Devices (AMD) are just a hair above their 52-week lows, and Intel (INTC) it also made new lows last week.

Last quarter, AMD reported solid results and mostly in-line guidance. Nvidia previously announced a large revenue shortfall, and followed that up with a lukewarm quarter and disappointing guidance.

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