Semiconductor Stocks Plunge: Opportunity or Risk?
The sharp decline in the semiconductor sector on Wednesday was mainly due to ongoing style rotation in the US stock market. Market sentiment was also affected by news of tighter restrictions on China's chip trade, comments from former President Donald Trump, and lower-than-expected earnings guidance from $ASML Holding (ASML.US)$ .
$Taiwan Semiconductor (TSM.US)$ 's better-than-expected earnings boost market sentiment
Before the market opened on July 18th, TSMC released its Q2 earnings, with revenue reaching NT$247.8 billion, exceeding expectations and achieving the fastest growth since 2022. The company also raised its full-year revenue growth forecast. TSMC's shares rose more than 4% after the earnings release. As of the time of writing, chip stocks rose in night trading, with $NVIDIA (NVDA.US)$ up 3%, ASML and $Advanced Micro Devices (AMD.US)$ up significantly.
Moomoo 24/5 trading feature, allowing you to trade US stocks not just during regular hours but also pre-market, after-market, and during the daytime!
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment