Research firm Bernstein responded to the news by cutting its price target on NVDA stock to $180 from $210, while JPMorgan wrote Nvidia is “working to limit downside risk” of Washington’s move, according to The Fly. Wall Street Firms React to the NVDA Stock News In pre-market trading, AMD stock stock was retreating 2.2% and is now down more than 6% for the day. That’s because, according to one publication, in 2020, China, including Hong Kong, accounted for roughly 24% of AMD’s total revenue. Meanwhile, another prominent chip maker, Advanced Micro Devices (NASDAQ: AMD), received a similar notice from Washington, Investor’s Business Daily reported today.ĪMD’s financial results could actually be affected significantly more than those of Nvidia by the new restrictions.
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