Nvidia stock slips to close in correction territory, joining AMD

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Shares of Nvidia Corp., joined Advanced Micro Devices Inc. on Monday, closing in on a correction after a big drop last week.

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nvidia nvidia,
-2.14%
Shares fell 2.1% to close Monday at $300.37, or 10% below their all-time high of $333.76 set on Nov. 29. Shares were as low as 280.38 intraday, but a rally back was not enough to save them from 10. The % drop mark that defines the correction.

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However, the stock is still up 122% over the past 12 months, and the $750.93 billion market cap still ranks it as the most valuable US chip maker.

Nvidia’s deal for ARM is dead – how long until CEO Jensen Huang accepts it?

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On Friday, Nvidia shares threatened to go into a correction but escaped a late-session rally that left them down 8% from recent highs. Late Thursday, the Federal Trade Commission sued SoftBank Group Corp. to block the acquisition of Nvidia’s $40 billion arm. 9984,
-8.20%
It has faced several headwinds since it was first announced at the end of 2020.

amd amd,
-3.44%
The stock, which fell in a correction on Friday, fell 3.4% on Monday to close at $139.06. Shares are now down 13.7% from their high of $161.09 set on Nov. 29.

While in a much better position than its potential acquisition of Nvidia, AMD has yet to take on Xilinx Inc. hasn’t closed the $35 billion acquisition of XLNX,
-1.68%,
Which he still hopes by the end of the year. AMD and Xilinx shareholders both approved the deal back in April.

Meanwhile, Intel Corp. INTC,
+3.53%
Shares bounced back on Monday, up 3.5% to close at $50.99, but were still stuck in bear territory, up nearly 26% from their 52-week closing high of $68.26 on April 9.

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