Chip Stocks Remain Strong Despite Market Volatility

Nvidia and other semiconductor companies show resilience amid geopolitical tensions

Published on Mar. 10, 2026

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Despite recent market volatility and geopolitical tensions, chip stocks like Nvidia are holding up well and showing signs of strength, according to market analyst Todd Gordon. The Invesco QQQ Trust, which tracks the Nasdaq 100, has remained in a relatively narrow 8.5% range since October 2025, while the VanEck Semiconductor ETF (SMH) is up 150% from the Q1 2025 lows and just 6.5% off all-time highs. Gordon believes the market volatility is a rotation back out of value and defensive stocks, and the growthier tech and semiconductor sectors are showing better relative strength, setting up a potential sustained move higher heading into the summer.

Why it matters

The resilience of chip stocks like Nvidia amid broader market volatility is an important indicator of the strength and growth potential of the semiconductor industry, which is a critical component of the technology sector and the broader economy. The ability of these companies to weather geopolitical tensions and market swings suggests investors may be regaining confidence in the long-term prospects of the industry.

The details

Gordon points to several factors supporting the strength of chip stocks, including the solid earnings reports from Nvidia, Broadcom, and Marvell, as well as the upcoming Nvidia GPU technology conference on March 16 that could reignite focus on AI. He notes that Nvidia's stock is in a longer consolidation than the Nasdaq-100, trading at the same level as August 2025, despite posting 73% year-over-year sales growth and 96% earnings per share growth in its most recent quarter. Gordon believes that if Nvidia can break above $190, it could target the mid-$200s.

  • The Invesco QQQ Trust has remained in a 8.5% range since October 2025.
  • The VanEck Semiconductor ETF (SMH) is up 150% from the Q1 2025 lows and just 6.5% off all-time highs.
  • Nvidia is reporting earnings tonight, which could provide more insight into the AI infrastructure buildout.
  • Nvidia's GPU technology conference is scheduled for March 16.

The players

Todd Gordon

Founder of Inside Edge Capital, a wealth management company, and a market analyst who provided the insights on the chip stock performance.

Nvidia

An American semiconductor company that designs graphics processing units (GPUs) for the gaming and professional markets, as well as system on a chip units (SoCs) for the mobile computing and automotive market.

Broadcom

A global semiconductor company that develops and supplies a range of semiconductor and infrastructure software products.

Marvell

A semiconductor company that develops and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits.

Invesco QQQ Trust

An exchange-traded fund that tracks the Nasdaq-100 Index, which includes the 100 largest non-financial companies listed on the Nasdaq stock market.

VanEck Semiconductor ETF (SMH)

An exchange-traded fund that tracks the performance of the U.S.-listed semiconductor companies.

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What they’re saying

“Despite the geopolitical tragedies occurring and the barrage of scary headlines crossing the tape when you step back, take a deep breath and look at what's actually happening, not what you think is happening.”

— Todd Gordon, Founder, Inside Edge Capital (CNBC)

“The two charts above, QQQ and SMH, are showing the growthier areas of the market are showing better relative strength setting up a possible sustained move higher in tech heading into the summer.”

— Todd Gordon, Founder, Inside Edge Capital (CNBC)

What’s next

Nvidia is reporting earnings tonight, which could provide more insight into the AI infrastructure buildout. Additionally, Nvidia's GPU technology conference is scheduled for March 16, which could reignite focus on AI if geopolitical tensions continue to subside.

The takeaway

Despite the volatility and uncertainty in the broader market, the resilience of chip stocks like Nvidia suggests that the semiconductor industry remains a strong and growing sector. Investors may want to keep a close eye on the upcoming earnings reports and industry events, as they could provide further insights into the long-term prospects of this critical technology segment.