April 4 – Semiconductors’ stocks are in free fall today, with increasing concerns concerning prices and economic instability. The NASDAQ composite index has officially entered the bear market territory, down more than 20% since December.
Stocks like Marvell Technology (Nasdaq: MRVL) Take a blow, down 12% in lunch trade. It is now down to 50% up to date. On semiconductor (Nasdaq: on) also slipped 4.5%, marking a drop of 44% for the year. Broadcom (Nasdaq: Avgo) and micropile technology (Nasdaq: MCHP) did not succeed much better, losing 7% and 6%, respectively.
NVIDIA (Nasdaq: NVDA) Continue to slide, lowering another 6%. He almost erased all of last year’s earnings. The Philadelphia (SOX) semiconductor index is down 7%, reaching its lowest point since November.
Adding to the chaos, China threw a price of 34% on American imports. This brings the total rate rate on Chinese products at almost 79%. Apple (Nasdaq: AAPPL), which has close links with Vietnam, also sees some pressure. Meanwhile, Micron technology (Nasdaq: Mu) and the manufacture of Taiwan semiconductors (NYSE: TSM) The two saw drops, with super micro (Nasdaq: SMCI) Lose 7% too.
This article appeared for the first time on Gurufocus.