Why Did Arm and AMD Fell Over 5% on Tuesday? Blame Tech Sell off, Politics

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Why Did Arm and AMD Fell Over 5% on Tuesday? Blame Tech Sell off, Politics

Seekingalpha01-03

Arm Holdings (NASDAQ: ARM) and AMD (NASDAQ: AMD) shares fell sharply on Tuesday amid a broader sell-off in tech stocks and concerns about ongoing geopolitical issues in the semiconductor industry.ARM ...

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setia100
·01-03
Tech Bubbles are bursting ❗❓🥺
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Arm, which went public in September at $51 per share, finished last year at more than $77 per share, a gain of more than 40%.AMD finished 2023 with a gain of more than 120% as investors showered enthusiasm about its prospects in artificial intelligence. In early December, the Dr. Lisa Su-led company showed off its new MI300x AI accelerator, which it hopes will compete with Nvidia (NVDA) in the data center.At the event, the company updated its forecast for the AI accelerator market, as it now sees the total addressable market hitting $400B by 2027, up from $150B this past August.The sharp declines in Arm and AMD were part of a larger sell-off in semiconductor stocks on Tuesday, as ASML (ASML) said the Dutch government recently partially revoked an export license of some lithography systems to China.China foreign ministry spokesman Wang Wenbin reportedly responded to the move, urging the European country \"to be impartial, respect market principles and the law, take practical actions to protect the common interests of both countries and their companies and maintain the stability of international supply chains.\"ASML shares fell more than 5% on Tuesday.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":259172822478944,"gmtCreate":1704287204544,"gmtModify":1704287208586,"author":{"id":"3567852837945728","authorId":"3567852837945728","name":"setia100","avatar":"https://community-static.tradeup.com/news/5d07af59743ad001196b7aca5f1726d7","vip":1,"crmLevel":5,"crmLevelSwitch":0,"authorIdStr":"3567852837945728","idStr":"3567852837945728"},"htmlText":"Tech&nbsp;Bubbles are bursting ❗❓🥺","listText":"Tech&nbsp;Bubbles are bursting ❗❓🥺","text":"Tech Bubbles are bursting ❗❓🥺","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/259172822478944","repostId":2400893722,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":4,"commentSize":1,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}