GPU/CPU Sector Plunges Intraday, AMD Down Nearly 9%, NVDA Down Nearly 2%
Complete. Here is the key summaryDuring Tuesday (July 28) trading, the GPU/CPU sector faced broad selling pressure. AMD fell nearly 9%, MRVL dropped over 8%, and DELL plunged more than 13%. NVDA slipped nearly 2%, while INTC declined over 6%.
During intraday trading on Tuesday (July 28), GPU and CPU-related stocks faced widespread selling pressure, with the sector showing a broad decline. As of 1:45 PM ET, major chip stocks were all lower, led by Dell (DELL.US), which fell over 13% to $370.74. AMD (AMD.US) followed closely, down nearly 9% to $454.64, while Marvell (MRVL.US) dropped over 8% to $172.59.
Even the sector heavyweight Nvidia (NVDA.US) was not spared, trading down nearly 2% at $193.86, with turnover exceeding $3.2 billion. Intel (INTC.US) fell over 6% to $85.77, Broadcom (AVGO.US) slipped over 2% to $372.86, Arm (ARM.US) dropped over 8% to $243.90, and Qualcomm (QCOM.US) declined over 3% to $164.33. CBRS (CBRS.US) was down over 6% at $176.76.
On the derivatives front, leveraged and inverse products saw heightened volatility. Direxion Daily NVDA Bull 2X Shares (NVDL.US) fell over 2% to $27.62, while GraniteShares 2x Long NVDA Daily ETF (NVDD.US) edged up 1.34%. Among inverse and leveraged products, YieldMax NVDA Option Income Strategy ETF (INTW.US) plunged over 12%, Direxion Daily ARM Bull 2X Shares (ARMG.US) dropped over 17%, T-Rex 2X Long Marvell Daily Target ETF (MVLL.US) fell over 17%, T-Rex 2X Long Qualcomm Daily Target ETF (CBRG.US) declined over 12%, and GraniteShares 2x Long AVGO Daily ETF (AVGX.US) dropped over 5%. Overall market sentiment remained bearish, and investors are advised to remain cautious of short-term volatility risks.