Chip stocks, especially advanced microdevices (AMD) and Nvidia (NVDA) will be crushed on September 1.
While the general market sell-off certainly isn’t helping, these stocks are under pressure for a more specific reason.
On Wednesday, Nvidia filed an update with the Securities and Exchange Commission. The chipmaker said the US government has ordered it to stop exporting artificial intelligence components to its customers in China.
The company said it could increase revenue by about $400 million, while AMD said it would have a non-material impact.