Shares of semiconductor stocks are trading lower amid this week's Fed meeting. Investors also assess weakness in SMCI as well as NVIDIA's Monday GCT announcements.
Portfolio Pulse from Benzinga Newsdesk
Semiconductor stocks are trading lower due to concerns around the Federal Reserve's meeting this week and specific developments with SMCI and NVIDIA's recent GCT announcements. This trend impacts a broad range of semiconductor companies.
March 19, 2024 | 2:05 pm
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NEGATIVE IMPACT
NVIDIA's stock is trading lower following its GCT announcements on Monday, contributing to the overall semiconductor sector's decline.
NVIDIA's GCT announcements are specifically mentioned as a contributing factor to the sector's downturn, suggesting a negative short-term impact on its stock.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
SMCI's stock is trading lower, influenced by the broader semiconductor sector's downturn and possibly specific concerns related to the company.
SMCI is directly mentioned as a factor contributing to the sector's weakness, indicating a negative short-term impact on its stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80