Shares of semiconductor stocks are trading lower as the sector pulls back after gaining in sympathy with NVIDIA, which reported strong earnings and issued upbeat guidance.
Portfolio Pulse from Benzinga Newsdesk
Semiconductor stocks are trading lower following a sector-wide pullback, despite NVIDIA's strong earnings report and positive guidance. Stocks mentioned include AMD, ASML, GFS, INTC, MPWR, NXPI.
August 24, 2023 | 6:15 pm
News sentiment analysis
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NEGATIVE IMPACT
AMD's stock is trading lower due to a sector-wide pullback in semiconductor stocks.
AMD, being a major player in the semiconductor sector, is likely to be affected by the overall sector trends. Despite NVIDIA's positive earnings, the sector is experiencing a pullback, which is negatively impacting AMD's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
ASML's stock is trading lower due to a sector-wide pullback in semiconductor stocks.
ASML, being a major player in the semiconductor sector, is likely to be affected by the overall sector trends. Despite NVIDIA's positive earnings, the sector is experiencing a pullback, which is negatively impacting ASML's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
GFS's stock is trading lower due to a sector-wide pullback in semiconductor stocks.
GFS, being a major player in the semiconductor sector, is likely to be affected by the overall sector trends. Despite NVIDIA's positive earnings, the sector is experiencing a pullback, which is negatively impacting GFS's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
INTC's stock is trading lower due to a sector-wide pullback in semiconductor stocks.
INTC, being a major player in the semiconductor sector, is likely to be affected by the overall sector trends. Despite NVIDIA's positive earnings, the sector is experiencing a pullback, which is negatively impacting INTC's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
MPWR's stock is trading lower due to a sector-wide pullback in semiconductor stocks.
MPWR, being a major player in the semiconductor sector, is likely to be affected by the overall sector trends. Despite NVIDIA's positive earnings, the sector is experiencing a pullback, which is negatively impacting MPWR's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NXPI's stock is trading lower due to a sector-wide pullback in semiconductor stocks.
NXPI, being a major player in the semiconductor sector, is likely to be affected by the overall sector trends. Despite NVIDIA's positive earnings, the sector is experiencing a pullback, which is negatively impacting NXPI's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80