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via finance.yahoo.comMarkets

Qualcomm faces worst day since 2020 as chips crater; semiconductor index down as much as 11%

FROM THE WIRE · FINANCE.YAHOO.COM

This article first appeared on GuruFocus. Qualcomm (QCOM) was on track for its worst trading day since 2020 Thursday as investors punished both the company's handset weakness and a much broader collapse across AI and semiconductor stocks. The Philadelphia Semiconductor Index…

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MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishThe semiconductor collapse and handset chip weakness push the whole tech sector lower.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01The Philadelphia Semiconductor Index fell as much as 11%, its steepest drop since March 2020.
  2. 02The Nasdaq dropped as much as 5%.
  3. 03Qualcomm's handset revenue fell 26% to $5.14 billion.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
QUALCOMM IncorporatedQCOMStock166.01 USD+1.19%today +5.91%Negative Advanced Micro Devices, Inc.AMDStock444.70 USD+1.44%today +9.97%Negative Micron Technology, Inc.MUStock689.86 USD+1.19%today +5.10%Negative Marvell Technology, Inc.MRVLStock138.13 USD+0.71%today +3.43%Negative NASDAQ CompositeINDEX:IXICIndex24,641.620.00%today +1.34%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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