Semiconductor Stocks Decline in Premarket Amid Concerns Over Chip Demand and Potential OpenAI IPO Delay

Deep News17:11

Semiconductor stocks are broadly lower in premarket trading as investors worry whether robust chip demand can be sustained following widespread price increases for Apple and Xbox products. Additionally, reports suggesting a potential delay in OpenAI's initial public offering have further dampened market risk appetite.

NVIDIA shares are down 1.4%, Advanced Micro Devices is off 2.8%, Broadcom has declined 1.4%, Qualcomm is down 1.9%, Intel has fallen 3.1%, and Marvell Technology is lower by 3.3%.

Memory chip and storage device companies are also broadly lower: Micron Technology is down 4.1%, SanDisk has declined 4.7%, and Western Digital is off 3.5%.

Among semiconductor equipment manufacturers: Applied Materials is down 2.1%, KLA-Tencor has fallen 2.6%, and Lam Research is lower by 2.8%; this decline comes despite reports earlier this week in Korean media that Samsung Electronics and SK Hynix are preparing to announce new capital expenditure plans.

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Comments

  • aay0001
    17:37
    aay0001
    Wrong. Russell index rebalance are forcing institutes to buy and sell, triggering algorithmic stop loss hunting
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