Shares of large-cap chip stocks are trading lower amid weakness in tech on concerns over further rate hikes. The sector may also be under pressure following China's recent announcement of an export restriction on certain materials used in chip production.
Portfolio Pulse from Benzinga Newsdesk
Large-cap chip stocks are trading lower due to concerns over further rate hikes and China's recent announcement of an export restriction on certain materials used in chip production. Stocks mentioned include ADI, INTC, KLAC, and QCOM.
July 06, 2023 | 4:20 pm
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NEGATIVE IMPACT
ADI's stock is trading lower due to concerns over rate hikes and China's export restrictions on chip materials.
The stock is likely to be negatively impacted in the short term due to the overall market sentiment and specific concerns over China's export restrictions, which could affect the company's supply chain.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
INTC's stock is trading lower due to concerns over rate hikes and China's export restrictions on chip materials.
The stock is likely to be negatively impacted in the short term due to the overall market sentiment and specific concerns over China's export restrictions, which could affect the company's supply chain.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
KLAC's stock is trading lower due to concerns over rate hikes and China's export restrictions on chip materials.
The stock is likely to be negatively impacted in the short term due to the overall market sentiment and specific concerns over China's export restrictions, which could affect the company's supply chain.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
QCOM's stock is trading lower due to concerns over rate hikes and China's export restrictions on chip materials.
The stock is likely to be negatively impacted in the short term due to the overall market sentiment and specific concerns over China's export restrictions, which could affect the company's supply chain.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100