NVIDIA (NVDA, Financial) shares fell 6.87% as the U.S. government imposed new export controls on its H20 chip, requiring indefinite licensing for exports to certain countries. This move, aimed at preventing the use of chips in foreign supercomputers, could significantly impact NVIDIA's product line designed to circumvent earlier restrictions. The company anticipates a $5.5 billion charge related to H20 chip inventory and commitments.
Tesla (TSLA) dropped 4.94% amid reports that its electric vehicle market share in California fell from 55.5% to 43.9% due to aging product lines and CEO Elon Musk's controversial political activities.
Apple (AAPL) declined 3.89%, announcing significant progress toward its 2030 carbon neutrality goal, with over 60% reduction in global greenhouse gas emissions since 2015. The company is also increasing its use of recycled materials.
Palantir (PLTR) decreased 5.78% following news of NATO's acquisition of its Maven Smart System for deployment in military operations.
Meta Platforms (META) saw a 3.68% drop as the FTC's antitrust case against the company began, potentially forcing the divestiture of key apps like Instagram if unsuccessful.
Microsoft (MSFT) fell 3.66% after Morgan Stanley lowered its price target from $530 to $472.
AMD (AMD) shares slipped 7.35% due to anticipated costs of up to $800 million from new semiconductor export controls.
TSMC (TSM) was down 3.60% as JPMorgan reduced its revenue expectations, citing decreased demand and economic uncertainties.
ASML (ASML) dropped 7.06% with lower-than-expected first-quarter orders, as the company navigates tariff impacts and strong AI-related demand.
Eli Lilly (LLY) decreased 2.94% with China's acceptance of a new drug application for mirikizumab, targeting ulcerative colitis.
