However, not all tech stocks experienced a decline. Nvidia, an AI chipmaker, saw its stock rise by over 16% in the past five days following impressive first-quarter results and the announcement of a 10-for-1 stock split. Despite the overall decline in tech stocks, Nvidia's success provides a positive outlook for some companies in the sector.
Key takeaways:
- Major tech stocks including Salesforce, Dell, Zoom, Adobe, Snap, and Microsoft have seen a decline in their share prices this week.
- Salesforce shares dropped nearly 20% due to concerns over weak sales growth outlook and fears of being left behind in the AI transformation.
- Dell shares are down over 15% in premarket trading despite reporting higher-than-expected Q1 sales and profits, due to disappointing guidance.
- Nvidia has seen positive movement with its stock up over 16% in the past five days, following impressive first-quarter results and the announcement of a 10-for-1 stock split.