Sectors News Results

  • Chip stocks dive after Broadcom rescinds guidance, questions second-half rebound amid coronavirus

    AMD, Nvidia and Skyworks decline more than 5% in late trading as Broadcom CEO wonders if demand will decline in U.S., Europe. Broadcom Inc. (AVGO) dropped its annual guidance Thursday afternoon and specifically blamed uncertainty in its semiconductor business through the rest of the year due to the spread of COVID-19, which appeared to push other chip stocks down in late trading. In remarks in a conference call Thursday, Broadcom Chief Executive Hock Tan specifically said that yanking...

  • Chinese Tech Stocks Are a Risky Coronavirus Refuge

    There has been an unlikely haven for investors during the coronavirus selloff: China. Stocks listed in Shanghai and Shenzhen have done much better than most major markets this year. The CSI 300 Index, a benchmark for large stocks on the two mainland bourses, is up 0.5% this year versus a 7% decline in the S&P 500. That's despite the fact that the epidemic has infected more than 80,000 of the country's citizens, and killed nearly 3,000, creating widespread business disruptions.

  • Chip, software stocks rebound as broader U.S. market keeps bleeding out

    Nvidia leads handful of S&P 500 tech gainers in February with 14% rise. Chip stocks and software stocks broke ranks with the rest of the technology sector on Friday, bouncing back amid a week long bloodbath for the broader U.S. stock market fueled by fear the COVID-19 epidemic may disrupt manufacturing supply lines. Nvidia Corp. led gainers in the chip subsector Friday, closing up 6.9% at $270.07, as the PHLX Semiconductor Index rose 2.2%.

  • Chip stocks catch brunt of tech decline, but coronavirus could benefit U.S. memory makers

    Memory-chip rivals to U.S. companies like Micron are heavily centered in quarantined Wuhan, China, analysts point out. Chip-related stocks fell at a faster rate than the broader market Monday as coronavirus fears rattled investors, but analysts contend that the outbreak could have a positive effect for some domestic semiconductor companies. The PHLX Semiconductor Index sank 3.9% to close at 1,848.86, for its worst day since Aug. 23, when the index fell 4.4%.

  • U.S.-China Troubles Could Still Damage the World's Chip Foundry

    The world's largest contract chip maker remains upbeat about the future, but it risks being caught up in the fight between the world's two superpowers. Taiwan Semiconductor Manufacturing Co. expects the semiconductor industry recovery to continue. It forecast revenue of $10.2 billion to $10.3 billion this quarter, the company said Thursday on its earnings call, a more than 40% increase from last year and higher than estimates from S&P Global Market Intelligence.

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