Chip Stocks Extend Sector Sell-Off, Optical Names Lead Declines

Deep News03-31

Semiconductor stocks were broadly lower on Monday, extending losses from the previous week as investors assessed the headwinds facing the industry. The Philadelphia Semiconductor Index fell approximately 3%, bringing its five-day decline to nearly 9%. Memory chip manufacturers were among the hardest hit, with Western Digital down 5%, and both Micron Technology and Seagate Technology falling about 4% each. SanDisk dropped nearly 3%. Equipment suppliers also declined, with Lam Research down around 5%, while ASML and KLA each fell approximately 3%. Among optical component makers, Applied Optoelectronics plunged 14%, Coherent dropped nearly 9%, and Lumentum declined 7%. Nvidia and Advanced Micro Devices both fell less than 1%, while Intel decreased about 3%.

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