Nvidia stock was falling again early Friday. A widespread technology-sector selloff was hitting the chip maker, which is struggling to establish a floor.

The shares were down 1.1% at $193.51 in premarket trading. If the move holds, the stock will be down a little more than 8% for the week, its worst weekly decline since April last year.

The stock previously looked to be establishing a trading range with a floor of roughly $200, after breaking through that level in April. However, it fell below that mark on Thursday as renewed concerns about lofty AI spending sparked a broad selloff in tech stocks.

That selloff was continuing Friday with futures tied to the tech-heavy Nasdaq 100 down 1.2%. Memory-and-storage companies were at the forefront of the move, with Micron Technology falling 5.6% and Sandisk dropping 5.7%.

"The same hot money that chased Nvidia over the past few years has now discovered the memory stocks," said Richard Reyle, chief investment officer at Questar Capital Partners. "We would not be buying big tech stocks or AI stocks at current levels, as their dominance is starting to erode."

Nvidia was named a Barron's stock pick on May 13, when shares were trading at $226. Since that recommendation, shares have fallen 13%. The stock now trades at a forward price-to-earnings multiple of 18.88 times according to FactSet.

Write to Adam Clark at adam.clark@barrons.com

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June 26, 2026 07:14 ET (11:14 GMT)

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