Express News | Shares of Semiconductor Stocks Are Trading Lower in Sympathy With Intel, Which Reported Worse-than-expected Q2 Financial Results and Issued Soft Guidance
Chip Stocks Suffer Amid Recession Fears, High Valuations Aren't the Only Headache
European chip stocks fell, following the global decline of technology stocks, due to Intel's plans to cut capital expenditures. The weak performance guidance of Microchip Technology also hit chip makers. Among chip equipment stocks, ASML Holding fell 6.3%
European semiconductor sector saw heavy losses on Friday, following the sharp decline of global technology stocks. Intel's plan to reduce capital expenditures put pressure on chip equipment companies, while Microchip Technology's weak performance guidance hit chip manufacturers. Among chip equipment stocks, ASML Holding dropped 6.3%, ASM International fell 9.5%, BE Semiconductor dropped 6.8%, and VAT Group fell 8.2%. Among chip manufacturers, Infineon Technologies fell 3.6%, STMicroelectronics fell 3.6%, Silicon Motion Technology fell 1.7%, and Nordic Semiconductor fell 6.0%. NASDAQ 100 index futures fell 1.8%, after the index fell 2.4% on Thursday.
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Express News | Shares of Chip Stocks Are Trading Lower Amid Overall Market Weakness. Recent Earnings From Large Names in the Sector May Also Be Weighing on the Sector
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Arm's stock price plummeted after-hours, but the company maintains its annual sales forecast unchanged.
Arm Holdings Plc's stock price plummeted after the company did not raise its full-year forecast, causing concern about the company's lack of confidence in its growth prospects. Despite Arm's quarterly performance easily exceeding analysts' expectations, CEO Rene Haas noted signs of weakness in certain markets. This has led to Arm maintaining its current full-year expectations. After closing at $144.17 in the New York market, the stock fell more than 12% in after-hours trading. Prior to the sell-off, the stock had risen 92% year-to-date. As a publicly-traded company, Arm continues to search for a foothold. Investors.
Express News | Shares of Semiconductor and Chip-related Stocks Are Trading Higher in Sympathy With AMD, Which Rose After Reporting Strong Q2 Earnings.
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Express News | Bernstein Maintains Outperform on STMicroelectronics, Lowers Price Target to $41
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Express News | STMicroelectronics NV : Bernstein Cuts Target Price to $41 From $54
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