Why Semiconductor Stocks Were Smacked Down Today
As the trading week came to a close, investors were feeling rather downbeat about the semiconductor industry. Many stocks in the sector had been flying high on the great promise of artificial intelligence (AI) boosting their results. However, some sour notes in recent earnings reports from major "chippies" -- particularly in the guidance posted by sector king Taiwan Semiconductor Manufacturing (NYSE: TSM) -- led to a fairly wide sell-off on Friday.
Taiwan Semi, which fell by over 3%, had plenty of company. Storage chip specialist Micron Technology (NASDAQ: MU) closed the day nearly 5% down, and analog chipmaker Texas Instruments (NASDAQ: TXN) slid by over 2%.
What happens with Taiwan Semi reverberates throughout the chip sector, as the contract manufacturer is the 800-pound gorilla of the industry these days.
Source Fool.com
Micron Technology Inc. Stock
Our community is currently high on Micron Technology Inc. with 74 Buy predictions and 5 Sell predictions.
At the moment Micron Technology Inc. has reached the predicted target price of 119 €, with a current price of 118.72 €.
