BUZZ-Broadcom pushes Philadelphia chip index on track for worst week in more than 2-1/2 years

Reuters09-06

** The Philadelphia Semiconductor index drops 4.1%, taking losses so far this week to 11.8%

** The index is on track for its worst weekly showing since Jan. 2022

** The biggest drag on SOX was Broadcom's 9% slump, after the chipmaker's tepid revenue forecast spooked investors betting on robust demand for AI chips

** Reuters reported Qualcomm explored the possibility of acquiring portions of Intel's chip design business, sending QCOM's shares down

** Heavyweight Nvidia slumps 4.5% at $102.36, heading for its worst week in 2 years

** Other top chip decliners include: Wolfspeed down 7.4%, Coherent down 5.5%, Marvell Technology falls 5.3%

** SOX up 8.7% YTD compared to 11.5% rise in the Nasdaq

(Reporting by Medha Singh)

((medha.singh@thomsonreuters.com))

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