Qualcomm, Micron, Sandisk and Arm fall, pulling the chip sector lower
FROM THE WIRE · FINANCE.YAHOO.COM
Chip stocks slipped on Thursday, extending declines from the day before. Despite a broader market rally on Wednesday following Democrats' midterm election victory, semiconductor stocks moved lower amid the threat that stricter regulation could slow data center construction.…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishThe semiconductor sell-off, a key AI-trade driver, weighs on a major index and several large caps.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01The PHLX Semiconductor Index fell more than 3% in premarket trading.
- 02Qualcomm issued a underwhelming profit forecast as higher component costs weigh on it.
- 03Arm shares fell even though its revenue guidance was slightly above consensus.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
QUALCOMM Incorporated155.51 USD-10.21%today -10.21%Negative Arm Holdings plc American Depositary Shares174.18 USD-9.19%today -9.19%Negative Micron Technology, Inc.726.78 USD-8.61%today -8.61%Negative NVIDIA Corporation191.24 USD-4.44%today -4.44%Negative Advanced Micro Devices, Inc.432.53 USD-11.51%today -11.51%Negative PHLX Semiconductor Index9,522.81-7.26%today -7.26%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets