Chip stocks rebound after steep sector sell-off
Technology · First reported 3 Nov, 14:05 · Updated 15:01
Major semiconductor shares rose in early Tuesday trading after a sharp decline, while investors awaited AMD’s quarterly results. The sector had shed about $3.7 trillion in market value since October 6, amid concerns about AI spending and neocloud-company debt.
- The PHLX Semiconductor Index and major chipmakers rose Tuesday after steep losses in the previous session.
- Nvidia gained 2%, AMD 4%, Intel 4% and Micron 2% in early trading; AMD’s quarterly results were due after the market close.
- Yahoo Finance calculations put the sector’s market-value loss at about $3.7 trillion since October 6; the articles cite AI-spending concerns and neocloud debt as pressures on chip stocks.
Summary written by Lux AI from 2 articles
Key facts
- Sector market-value decline
- About $3.7 trillion since October 6, according to Yahoo Finance calculations.
- Tuesday early trading
- Nvidia +2%; AMD +4%; Intel +4%; Micron +2%.
- AMD results
- Scheduled for release after the US market closed Tuesday.
- Largest declines among major chipmakers
- Nvidia had the largest dollar loss; Intel fell nearly 50%, the steepest percentage drop among the major chipmakers.
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