Major chipmaking names are continuing their downward spiral today after Friday’s bloodbath as new challenges surface.
To top off sagging demand and lower selling prices, now the industry seems to be at risk from the new U.S. rules on China shipments.
The rules are aimed at stemming the flow of technological expertise out of the U.S., and while Nvidia noted the impact may not be material, investors are hammering the stock nonetheless.
AMD, in particular, is languishing at 52-week lows after a weak PC market and inventory challenges put a dent in its preliminary Q3 numbers.
Further, the Direxion Daily Semiconductor 3x Bull Shares ETF (SOXL) is now down 24% in the past five days alone.
Here are some stocks that could be affected by this news:
- Intel (NASDAQ:INTC)
- Nvidia (NASDAQ:NVDA)
- Advanced Micro Devices (NASDAQ:AMD)
- Micron Technology (NASDAQ:MU)
- Western Digital (NASDAQ:WDC)
- Qualcomm (NASDAQ:QCOM)
