Shares of semiconductor and chip companies are trading lower as the sector pulls back following recent AI-driven momentum. Weak guidance from Ambarella has also weighed on the sector.
Portfolio Pulse from Benzinga Newsdesk
Semiconductor and chip stocks are trading lower due to a pullback in the sector following recent AI-driven momentum and weak guidance from Ambarella.
May 31, 2023 | 3:35 pm
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NEGATIVE IMPACT
Ambarella's weak guidance has contributed to the decline in semiconductor and chip stocks.
Ambarella's weak guidance is directly mentioned as a factor contributing to the decline in the sector, which negatively impacts its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100