Nvidia (NASDAQ:NVDA) shares were down 3.13% at $116.32 as of 12:05 p.m. ET on Monday, continuing last week's slide as investors responded to newly announced tariffs from former President Donald Trump.
The stock was already under pressure after reports suggested the administration might tighten restrictions on Nvidia's chip exports to China. Other major chipmakers also took a hit, with Qualcomm (NASDAQ:QCOM), Texas Instruments (NASDAQ:TXN), and Advanced Micro Devices (NASDAQ:AMD) all slipping more than 1%.
While the tariffs may not have an immediate direct impact on the semiconductor industry, analysts caution that broader ripple effects like supply chain disruptions and rising costs could be a concern. Bernstein analyst Stacy Rasgon pointed out that in 2023, the U.S. imported $39 billion worth of data processing equipment, including PCs and servers, from China, and another $28 billion from Mexico.
With the semiconductor industry deeply tied to global supply chains, companies like Foxconn, which is building a massive AI server assembly plant in Mexico, may have to rethink their strategies in response to shifting trade policies.
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