Why Nvidia Stock Shot Higher on Tuesday

Down Thursday, up Friday, down Monday -- seesawing semiconductor stock Nvidia (NASDAQ: NVDA) played true to form on Tuesday, rising once again, and this time by a pretty significant number, closing the day up 5.3%. Tuesday did start off well for Nvidia stock, with investment bank Piper Sandler saying it is "moving to a more positive stance" on semiconductor stocks in general, after making some pessimistic comments about the sector two weeks ago. On the one hand, rumblings of weakness in PC sales and worries over whether GPU demand can hold up in the context of a crypto sell-off, combined with more general concerns about rising interest rates and inflation, have investors feeling nervous about semiconductor growth estimates.