"Semiconductor stocks are cyclical. The current cycle is that there were shortages. Nvidia (NVDA) is centered around gaming and consumer spending, but data centers performed better. Ironically both Nvidia (NVDA) and Micron (MU) saw technical resistance before their earnings announcements," says Bill Baruch. Nvidia (NVDA) says that 2Q revenue is expected to be $6.7B, which is down 19% sequentially.