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Why Nvidia Stock Dropped 5% Today

·2 min read
Why Nvidia Stock Dropped 5% Today

After popping briefly yesterday on positive analyst commentary over its 2022 Global Technical Conference performance, Nvidia (NASDAQ: NVDA) stock is trending lower again Thursday -- down 5% through 11 a.m. on some curious comments from the company's CEO. Commenting on what some analysts have called the "eye-watering" prices announced for its latest series of GeForce RTX graphics, Nvidia CEO Jensen Huang asserted that "Moore's Law is dead" -- and that semiconductor prices are only going up from here. To refresh your memory, Moore's Law is an assertion made by legendary Intel engineer Gordon Moore in 1965, that the number of transistors in an integrated circuit roughly doubles every two years, with the result that semiconductors will get both better and cheaper over time.