Chip Stocks Fall Ahead of Nvidia's Earnings Report: TSMC, ASML, and Other Suppliers Dip

Shares of major chip companies TSMC and ASML dropped ahead of Nvidia's earnings report. The market will closely watch for indications of Nvidia's growth prospects. TSMC, a key supplier to Nvidia and Apple, saw a 1% decline, while ASML closed 2.09% lower on Tuesday. Meanwhile, United Microelectronics Corp. and MediaTek slipped 0.91% and 0.31%, respectively. Nvidia's stock fell 4.35% on Tuesday, in line with a broader decline in U.S. tech stocks. Morgan Stanley anticipates a strong quarter for Nvidia, but investors remain cautious about high near-term expectations.

Chip Companies' Stock Performance