Shares of semiconductor companies 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.
August 24, 2023 | 7:38 pm
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NEGATIVE IMPACT
Applied Materials' stock is trading lower due to the sector-wide pullback in semiconductor stocks.
Applied Materials, being a part of the semiconductor sector, is affected by the overall sector trends. The current pullback in the sector has led to a decrease in AMAT's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Entegris' stock is trading lower due to the sector-wide pullback in semiconductor stocks.
Entegris, being a part of the semiconductor sector, is affected by the overall sector trends. The current pullback in the sector has led to a decrease in ENTG's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NVIDIA's strong earnings and positive guidance did not prevent a sector-wide pullback, impacting its stock negatively in the short term.
NVIDIA's strong earnings report and positive guidance typically would boost its stock. However, the overall sector pullback has led to a decrease in NVIDIA's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100