Benzinga | Nov 10, 2021 02:58PM EST

Why Nvidia Shares Are Falling

NVIDIA (NASDAQ:NVDA) shares are trading lower amid a pullback after the stock saw momentum in recent sessions.

Also, shares of several other chip and semiconductor companies are trading lower as the sector pulls back following recent strength, with chip shortage concerns driving volatility in the sector. Worse-than-expected US inflation data has weighed on stocks across sectors.

Nvidia shares were otherwise trading higher Tuesday following multiple announcements from the company during its GTC 2021 event.

Nvidia is the leading designer of graphics processing units that enhance the experience on computing platforms. The firm's chips are used in a variety of end markets, including high-end PCs for gaming, data centers, and automotive infotainment systems.

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Nvidia has a 52-week high of $323.10 and a 52-week low of $115.66.