- Overnight the Philadelphia Stock Exchange Semiconductor Index (SOX) fell 1.20%, while the Nasdaq rose 0.63% and the Magnificent 7 rose by 1.37%, further underpinning the rally in semiconductor stocks may be slowing.
- The weakness in the sector overnight looks to be on the back of Qualcomm's takeover interest in Intel cooling, which saw Intel's stock close down 3.30%, to be the 2nd worst performing stock in the SOX, while Monolithic Power Systems was the worst performing, falling 4.79% and now trades down 36.5% for the past month, this follows mixed earnings results on Oct 30th and continue price downgrades from analysts. While Analog Devices erased earlier gains after company reported fourth-quarter results that beat expectations however gave an outlook that is seen as mixed.
- Asian Semiconductor stocks are also struggling today, with the BBG Semiconductor Index trading 0.60% lower, with Samsung down 2.25% and SK Hynix down 3.5%. Taiwan's TSMC is holding up well, and trades unchanged, while Hon Hai is down 1.75%.
EQUITIES: Global Semiconductors Stocks
Last updated at:Nov-27 02:22By: Sam Hunter
Stocks
- Overnight the Philadelphia Stock Exchange Semiconductor Index (SOX) fell 1.20%, while the Nasdaq rose 0.63% and the Magnificent 7 rose by 1.37%, further underpinning the rally in semiconductor stocks may be slowing.
- The weakness in the sector overnight looks to be on the back of Qualcomm's takeover interest in Intel cooling, which saw Intel's stock close down 3.30%, to be the 2nd worst performing stock in the SOX, while Monolithic Power Systems was the worst performing, falling 4.79% and now trades down 36.5% for the past month, this follows mixed earnings results on Oct 30th and continue price downgrades from analysts. While Analog Devices erased earlier gains after company reported fourth-quarter results that beat expectations however gave an outlook that is seen as mixed.
- Asian Semiconductor stocks are also struggling today, with the BBG Semiconductor Index trading 0.60% lower, with Samsung down 2.25% and SK Hynix down 3.5%. Taiwan's TSMC is holding up well, and trades unchanged, while Hon Hai is down 1.75%.
