Broadcom Miss Chip Selloff
Disappointing results from Broadcom are causing a selloff in chip stocks, weighing on the Nasdaq.
Too little corroboration in the last 3 days to call a trend (12 articles). Watching for it to gain traction.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"Wall Street ended last week lower, weighed down by weakness in chip stocks. The Nasdaq Composite dropped 2.9% and the VanEck Semiconductor ETF (SMH) also recorded its third weekly decline in four weeks, falling nearly 9%."
"Worldwide share indexes plunged on Friday, driven by a continuous decline in major chip stocks."
"That is why a collapsing forward multiple has historically been a warning, not a discount. It falls when the market decides the earnings underneath it are about to fall further."
"the S&P 500 and Nasdaq experienced downturns, driven primarily by falling chip stocks which overshadowed promising second-quarter earnings. The Philadelphia SE Semiconductor index fell 3.8%"
"Chip stocks led the sell-off in the Nasdaq Composite, which was down 400 points, while the Nasdaq 100 index fell over 550 points, or close to 2%."
"Stock indexes are mostly lower today as a sell-off in South Korean chipmakers weighed on technology stocks."
"This surge in oil costs exacerbated the ongoing decline in chip stocks, heavily weighing on the Nasdaq index."
"On Wednesday U.S. Technology fell and chip stocks dropped... Intel, Advanced Micro Devices, Broadcom Devices, Micro and Nvidia fell 10.6%, 2.2%, 6.9%, 9%."
"The Nasdaq composite dropped 0.8% after erasing an early gain. The S&P 500 was little changed Thursday, even though more than two-thirds of the stocks within the index rose."
"The Nasdaq 100 slipped 0.2%"