Chip Stocks Suffer Amid Recession Fears, High Valuations Aren't the Only Headache
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Express News | U.S.-Listed Shares of Arm Holdings Fall 4%, Micron Technology Down 3%, Marvell Technology Down 1.4%
Express News | Advanced Micro Devices and Broadcom Down 1.8% Each, Qualcomm off 2%
Express News | U.S. Chip Stocks Fall Premarket After Intel Suspends Dividend, Cuts Workforce
Leadership position of Asia's chip stocks has changed. Only storage stocks that increased in July were Samsung Electronics, while SK Hynix suffered a heavy decline.
The leading position of Asia's chip stocks is changing, and the buying of foreign investors is pushing up Asian chip stocks. Samsung Electronics was the only company to rise in a Bloomberg memory stock index comprising six stocks last month, rising nearly 3%, while SK Hynix and Micron Technology both fell more than 16%. SK Hynix remains the hottest storage stock this year, up 27%, while Samsung Electronics is up about 3%.
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