Semiconductor Profit-Taking Rotation Out
Profit-taking in semiconductor stocks after strong first-half gains is creating downward pressure on the Nasdaq.
Too little corroboration in the last 3 days to call a trend (13 articles). Watching for it to gain traction.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"Shares of Marvell Technology and Intel both fell nearly 2%. Micron Technology dipped 1%. The seller of computer memory was one of the largest drags on the S&P 500 Tuesday."
"Semiconductor shares were the biggest losers as Samsung Electronics tumbled 6.3 percent to 203,500 won and SK hynix plunged 10.37 percent to 1.5 million won. investors still want to see strong evidence of massive AI spending and growth."
"Asia's chip selloff looks like a combination of profit-taking and risk reduction ahead of Friday's nonfarm payroll report"
"the Philadelphia Semiconductor Index fell 4.5%, putting it on track for its worst month since 2002, just after its best quarter on record."
"Chip stocks remain under pressure after a nearly 11% drop in South Korea's benchmark Kospi overnight. SK Hynix is down 4% in the U.S., dragging other semiconductor names down with it... That's why Nasdaq futures are down nearly 1%, while the Dow is up almost 1%."
"Layered on top of both: profit-taking after several names inside the sector went parabolic."
"The decline occurred as investors took profits following a strong rally in semiconductor stocks, despite a generally positive market environment."
"Among the three major US stock indexes, the tech-laden Nasdaq led the losses, followed by the S&P 500."
"Shares in computer chipmaker Samsung Electronics slumped 7.7% even after it announced its operating income surged 19-fold to 89.4 trillion won ($58.7 billion) in the last quarter, while its revenue more than doubled."
"The Nasdaq Composite, however, moved lower amid a decline in semiconductor stocks."