Shares of chip and semiconductor stocks are trading lower as the sector pulls back after it surged recently on AI optimism. Stocks across sectors are also lower following rate hike comments from Fed Chair Powell.
Portfolio Pulse from Benzinga Newsdesk
Chip and semiconductor stocks are trading lower as the sector pulls back after recent surge on AI optimism. Stocks across sectors are also lower following rate hike comments from Fed Chair Powell.
June 21, 2023 | 3:05 pm
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NEGATIVE IMPACT
Intel's stock is trading lower due to the pullback in the chip and semiconductor sector and rate hike comments from Fed Chair Powell.
Intel's stock is directly impacted by the pullback in the chip and semiconductor sector, which surged recently due to AI optimism. Additionally, Fed Chair Powell's rate hike comments are causing stocks across sectors to trade lower, further affecting Intel's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Marvell Technology's stock is trading lower due to the pullback in the chip and semiconductor sector and rate hike comments from Fed Chair Powell.
Marvell Technology's stock is directly impacted by the pullback in the chip and semiconductor sector, which surged recently due to AI optimism. Additionally, Fed Chair Powell's rate hike comments are causing stocks across sectors to trade lower, further affecting Marvell Technology's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
NVIDIA's stock is trading lower due to the pullback in the chip and semiconductor sector and rate hike comments from Fed Chair Powell.
NVIDIA's stock is directly impacted by the pullback in the chip and semiconductor sector, which surged recently due to AI optimism. Additionally, Fed Chair Powell's rate hike comments are causing stocks across sectors to trade lower, further affecting NVIDIA's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100