Nvidia stock set to close 2022 after losing 57% in market cap since November

Nvidia is ending the year with a market cap of $359 billion, a loss of more than $475 billion from the prior month.

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JARED BLIKRE: Time for a triple play-- three stocks were watching in the final 30 minutes of trading. Today, we have Nvidia, Tesla, and Amazon. My pick is Nvidia, which reached a peak market cap not this year, but last year of $834 billion. It is ending the year at $359 billion. That is a drop of over $475 billion, or 57%. And not a lot of fun-- well, we do have a lot of fundamental news, but I want to get to our heat maps here and just show some technical analysis on a sector basis.

So here we have the year-to-date view. Lots of dark red. Pretty ugly there. Nvidia, by the way, in the lower left. That's down over 50%. And let me sort by performance. You can see the bottom row there. Intel down a very similar amount, almost 50%. It looks like Western Digital, AMD, Marvell, all of those significant losses here.

Now, if you look at the quarter, we do see some green. But the month of December was pretty negative for chip stocks. They are very cyclical, very levered to the business economy here. And any bad news with respect to the Fed still hiking, anything with regard to persistent inflation, well, that weighs on this sector. You can see only AVGO, that's Broadcom in the upper left, that's up about 9/10 of a perfect for us.

- Yeah, Jared. We had a guest on this week on chips and stuff and talking about how the boom-bust nature of the business, it's such a commodity. They overproduced, then they have too much supply. Nvidia is a different story because it's really kind of these high-value graphics chips that people really want. So maybe if these people-- or, sorry, businesses go through that supply, and then replenish later in the year, maybe they might be in a better spot. I mean, it's still a very expensive business to be in.

- Yeah, it certainly is very expensive. And we've heard a number of the projections that have come out, not only from analysts but a number of industry watchers. Gartner out with a recent forecast saying that the global semiconductor revenue is projected to decline 3.6% next year. So I know a number of analysts are bullish on the sector, but a lot of that has to do with picking the right winners in this space, given the fact that there's so much uncertainty headed into the new year.

- Yeah.