Semis Under Pressure Post-NVDA Earnings

Following Nvidia (NVDA -4.6%) earnings, Semis are under pressure (SOX -4.1%), pulling the top-weighted Technology sector (-2.15%) to the bottom of the leaderboard. SOX’s (daily) breakout above $8400 was short-lived. Nvidia’s Q1 (Apr) revenue guidance was very impressive, and the Q1 outlook assumes zero Data Center compute revenue from China, making the guidance even more…