U.S. Consumer Confidence Falls AMD and Nvidia Lead Chip Stocks Lower.

$NVIDIA(NVDA.US)$ $Advanced Micro Devices(AMD.US)$ $Direxion Daily Semiconductor Bull 3x Shares ETF(SOXL.US)$
AMD and Nvidia shares led the semiconductor sector lower on Tuesday, as the technology sector plunged on concerns about falling consumer confidence and rising inflation.

AMD shares fell more than 6 percent after the company said it was investigating an allegation by cyber-terrorist group RansomHouse that it illegally accessed 450 gigabytes of data. Nvidia shares fell more than 5 percent, both also affected by declining GPU prices and sales.

On Tuesday, $Intel(INTC.US)$ shares fell slightly more than 1 percent, while several other semiconductor companies, such as Adenor , Micron Technology (MU.US) and Broadcom , saw their shares fall less than 1 percent. In addition, Intel reportedly lowered the price of its Alder Lake CPUs due to the continued downturn in the personal computer market.

In contrast, Qualcomm shares rose more than 5 percent after reports that $Apple(AAPL.US)$ had failed to develop its own modem chip, and an influential analyst said Qualcomm would retain the modem business for Apple's iPhone.

The latest survey indicates that Apple's iPhone 5G baseband chip development may have failed, so Qualcomm will continue to be the exclusive supplier of 5G chips for the new iPhone in 2023, with a 100 percent supply share (Qualcomm's previous estimate was 20 percent).