How bad is it?
While it's only been a few days since the last HEXUS.sharewatch, the dramatic effect on NVIDIA's share price following its announcement of two pieces of financial bad news yesterday means that it's worth a look at early trading on the NASDAQ and Dow today.
Soon after the NASDAQ opened, NVIDIA's stock was trading at 30 percent below its closing price yesterday.
By 10am ET, it was around 27 percent below the close and over 32 percent below its price at the end of last week.
The other thing to keep an eye on is what effect this news might have on other technology stocks. AMD's shares are also declining in value quite rapidly, but this slide started a week before the NVIDIA news and it closed at 5.44 yesterday so not too much of its decline can be attributed to the NVIDIA news.
Intel's has dropped a bit, but again this seems to be mainly the continuation of a longer trend the big system builders: HP and Dell seem barely affected if at all. Among the distributors, Ingram Micro and Tech Data are stable, but Avnet is experiencing a fairly steep decline.
| Company | Listing | Share Price 29/5/08 | Share Price 20/6/08 | Share Price 27/6/08 | Share Price 3/7/08* | 6-day change* | Market cap (bn) |
|---|---|---|---|---|---|---|---|
| AMD | AMD | 6.77 | 6.99 | 5.95 |
5.17 | -13.1% | 3.13 |
| Apple | AAPL | 186.69 | 175.27 | 170.09 | 168.00 | -1.2% | 148.21 |
| Avnet | AVT | 29.00 | 29.15 | 27.55 | 24.83 | -9.9% | 3.74 |
| Dell | DELL | 21.81 |
23.40 | 22.25 | 22.94 | 3.1% | 46.38 |
| GOOG | 583.00 | 546.43 | 528.07 | 530.99 | 0.6% | 166.91 | |
| HP | HPQ | 46.91 | 45.64 | 44.58 | 42.72 | -4.2% | 105.43 |
| IBM | IBM | 129.71 | 122.74 | 120.05 | 118.56 | -2.2% | 163.17 |
| Ingram Micro |
IM | 17.90 | 18.00 | 17.81 | 17.16 | -1.2% | 2.89 |
| Intel | INTC | 23.14 | 22.37 | 21.49 | 20.46 | -4.8% | 117.25 |
| Microsoft | MSFT | 28.31 | 28.23 | 27.63 | 25.90 | -6.3% | 241.40 |
| NVIDIA | NVDA | 23.52 | 19.76 |
19.28 | 13.04 | -32.4% | 7.24 |
| Tech Data |
TECD | 36.62 | 34.71 | 34.13 | 34.65 | -1.7% | 1.83 |
| Yahoo! |
YHOO | 27.07 | 21.99 | 21.33 | 21.59 | 1.5% | 29.75 |
| Dow | .DJI | 12646.22 | 11842.69 | 11346.51 | 11210.05 | -1.2% | NA |
| NASDAQ | .IXIC | 2508.32 | 2406.09 | 2315.63 | 2239.52 | -3.3% | NA |
| FTSE 100 | .FTSE | 6068.10 | 5620.80 | 5529.90 | 5439.90 | -1.6% | NA |
*All prices are those at close of trading on the date specified, except 3/7/08 when we quoted prices and market caps at 15:00 UK time, 10:00 US eastern time.
Update 12:00, 4th July 2008: NVIDIA's shares closed at 12.49, which was a 30.73% drop on the previous day's close. There was little movement in after hours trading.
Related reading:
AMD GPU sales VP says “At last we’re making a dent in NVIDIA”
BFG president says NVIDIA “will guarantee it wins the price/performance battle”
