Semiconductor Index Rebounds After Intel Guidance-Triggered Decline
Analysts said the PHLX Semiconductor Index, which had slid 7% after Intel posted weaker-than-expected fourth-quarter guidance, showed signs of a rebound on November 4, citing strong demand for AI-related chips and potential gains for companies such as Nvidia, Broadcom and Micron. The decline stemmed from Intel’s guidance miss on October 30, which triggered a sell-off across Asian chip makers; Bloomberg reported a nearly 5% drop in a Bloomberg-tracked Asian semiconductor index, and The Straits Times noted Singapore semiconductor stocks fell between 4% and 14%. Livemint reported that the tumble also affected AMD, Nvidia and Broadcom, while Yahoo Finance said the AI sector lost about $5 trillion in market value since early October.
BigGo Finance added that Intel shares fell almost 29%, pulling Taiwan’s weighted index lower and dragging TSMC shares down 1. 9%.
