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Asian chipmaking stocks on edge before Nvidia Q4 earnings test

February 20, 2024

Most major Asian chipmaking stocks moved in a flat-to-low range on Wednesday, tracking overnight declines in NVIDIA Corporation (NASDAQ:NVDA) as markets awaited more cues on an AI-driven boom from the chipmaker’s fourth-quarter earnings.

Nvidia wiped out about $100 billion in market capital on Tuesday, also seeing a measure of profit-taking as investors waited to see whether a massive earnings spike materialized as forecast by the chipmaker. The earnings will also potentially justify Nvidia’s sharp run-up in valuation over the past year.