SMIC's stock fell sharply by 5.47% during intraday trading on Friday, reflecting broad weakness across the semiconductor sector.
The decline appears to be linked to negative market sentiment following ARM Holdings' latest quarterly results. While ARM's earnings slightly exceeded market expectations, its stock price dropped approximately 10% after the report. Analysts at Goldman Sachs noted that investor expectations had been significantly elevated prior to the release, making the modest earnings beat insufficient to drive further gains. This disappointment appears to have spilled over to the broader semiconductor sector, affecting stocks including SMIC.
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