SMH is trading 1.6% down today as investors take profits after the Nvidia-led semiconductor surge on August 27.
- Nvidia’s forecast for approximately 70% revenue growth had lifted chip stocks broadly, but the AI rally is pausing.
- Marvell Technology shares fell 8% premarket despite stronger results and guidance, adding pressure.
- The broader market is relatively stable as investors await Federal Reserve Chair Kevin Warsh’s Jackson Hole remarks on interest rates and inflation.