Citi cuts Nvidia price target after China chip restrictions

Shares of Nvidia (NVDA) are trending lower after the Biden administration announced tighter restrictions on advanced AI chip exports to China. Upon this news, Citigroup lowered its price target on shares of the chipmaker. Yahoo Finance Reporter Josh Schafer breaks down the restrictions and how Nvidia will work under those restrictions. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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