Chip stocks fall as Lam Research cites supply chain constraints
FROM THE WIRE · FINANCE.YAHOO.COM
Semiconductor stocks fell in pre-market trading on Thursday as a major equipment supplier cited supply chain constraints on its earnings call. The PHLX Semiconductor Index (SOXX) was poised to open down 4% amid investor concerns that such limitations could potentially hurt chip…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishA sector-wide semiconductor selloff, with SOXX poised to open down 4%, can weigh on the broader tech complex.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Lam Research cited near-term supply chain constraints on its earnings call.
- 02The CFO said quarterly revenue guidance of $8.6 billion would have been higher without those constraints.
- 03Nvidia and Qualcomm fell over 2% in pre-market trading, while Intel and Marvell dropped 4% to 5%.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
NVIDIA Corporation216.64 USD-2.40%today -2.40%Negative Lam Research Corporation236.68 USD-9.25%today -9.25%Negative Applied Materials, Inc.384.30 USD-6.03%today -6.03%Negative Intel Corp.87.91 USD-5.44%today -5.44%Negative QUALCOMM Incorporated175.32 USD-1.48%today -1.48%Negative iShares Semiconductor ETF488.68 USD-4.25%today -4.25%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets