BUZZ-Chips stocks fall as tech selloff deepens
Applied Materials, Inc. AMAT | 0.00 | |
NVIDIA Corporation NVDA | 0.00 | |
Broadcom Limited AVGO | 0.00 | |
Micron Technology, Inc. MU | 0.00 | |
QUALCOMM Incorporated QCOM | 0.00 |
Updates
** Chip stocks fall, tracking broader tech weakness, despite upbeat AI demand signals from Micron MU.O and Qualcomm QCOM.O
** Investors remain worried about hyperscaler spending on AI and who foots the bill
** Sentiment was also hurt by a New York Times report that OpenAI is considering delaying its public debut until next year, citing people familiar with the matter
** Micron MU.O falls 1.8%, while Qualcomm QCOM.O is marginally higher by 0.7%
** Among other chip stocks , Nvidia NVDA.O down 0.9%, AMD AMD.O down 2%, and Broadcom AVGO.O down 2.5%
** Arm Holdings ARM.O slips 3.6%, Microchip MCHP.O falls 4.6%, Applied Materials AMAT.O declines 2.9% and Marvell Technology MRVL.O drops 4.1%
** S&P 500 tech index is on track for a 6% weekly drop, while the Philadelphia SE Semiconductor indeX .SOX is down more than 7%.
** Roundhill Memory ETF DRAM.Z drops 3.9%, iShares Semiconductor ETF SOXX.O falls 3.9% and VanEck Semiconductor ETF SMH.O declines 2.9%