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Western Digital, Micron, Nvidia Fall On Chip Glut Amid Recession Fears :
Shares in flash memory chipmaker Western Digital (WDC) tumbled on Thursday after Goldman Sachs downgraded the company to sell, dragging down Micron Technology (MU) as well. And while shares in MU and WDC stock fell, graphics chipmaker Nvidia (NVDA) also dropped on oversupply concerns and a low rating for NVDA stock.
Goldman Sachs analyst Toshiya Hari in a report said "multiple sources" told him that flash memory chip suppliers are offering below cash-cost prices in an attempt to work down inventories amid "a weak macroeconomic backdrop."
Meanwhile, HSBC analyst Frank Lee initiated coverage of with NVDA stock a "reduce" rating. He cited expectations for a near-term chip inventory correction and demand uncertainty.
Nvidia makes chips for high-performance computer servers in data centers as well as automobiles.
(Score: 2) by Mojibake Tengu on Tuesday December 20, @07:16AM
We are currently in active warring phase, that be a routine remedy to oversupply.
The edge of 太玄 cannot be defined, for it is beyond every aspect of design