Nvidia, AMD Pull Back As Biden Administration Weighs Ban On AI Chip Exports To China: This Fund Tracks The Sector, Offers 3X Leverage
Portfolio Pulse from Melanie Schaffer
The semiconductor sector, including NVIDIA Corp (NVDA), Advanced Micro Devices, Inc (AMD), Marvell Technology, Inc (MRVL), ON Semiconductor Corp (ON), and Broadcom, Inc (AVGO), experienced a pullback following reports of a potential U.S. ban on AI chip exports to China. The Direxion Daily Semiconductor Bull 3X Shares (SOXL), a triple-leveraged fund tracking semiconductor companies, also opened lower but rebounded later in the day.
June 28, 2023 | 6:09 pm
News sentiment analysis
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NEGATIVE IMPACT
Advanced Micro Devices, Inc opened the trading session down 1.9% following the news of a potential U.S. ban on AI chip exports to China.
AMD, another major player in the AI chip market, could also be significantly impacted by a U.S. ban on exports to China.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Broadcom, Inc started the trading session down just over 1% following the news of a potential U.S. ban on AI chip exports to China.
Broadcom, a semiconductor company, could be impacted by a U.S. ban on AI chip exports to China.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Marvell Technology, Inc started trading 3.33% lower following the news of a potential U.S. ban on AI chip exports to China.
Marvell Technology, a semiconductor company, could be impacted by a U.S. ban on AI chip exports to China.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
NVIDIA Corp opened the trading session down 2.9% following the news of a potential U.S. ban on AI chip exports to China.
As a major player in the AI chip market, NVIDIA could be significantly impacted by a U.S. ban on exports to China, a major market for these products.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
ON Semiconductor Corp started the trading session down just over 1% following the news of a potential U.S. ban on AI chip exports to China.
ON Semiconductor, a semiconductor company, could be impacted by a U.S. ban on AI chip exports to China.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Direxion Daily Semiconductor Bull 3X Shares opened Wednesday’s trading session down over 5% before rebounding to Tuesday’s high-of-day.
SOXL, a triple-leveraged fund that tracks a number of semiconductor companies, could be impacted by a U.S. ban on AI chip exports to China.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Texas Instruments, Inc, which makes up 7.99% of the SOXL fund, opened down 0.94% Wednesday.
Texas Instruments, a semiconductor company, could be impacted by a U.S. ban on AI chip exports to China.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100