Chip Stocks Staring At Another Bloodbath As Intel Tumbles, Nvidia Dips 4%, ASML Crumbles Over 6%: What's Ailing The Sector Friday
Portfolio Pulse from Shanthi Rexaline
Semiconductor stocks are facing significant pressure due to weak economic data, regulatory concerns, and sector-specific risks. Major companies like Intel, Nvidia, and ASML are experiencing notable declines. ETFs tracking the sector are also down significantly.
August 02, 2024 | 10:39 am
News sentiment analysis
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NEGATIVE IMPACT
ASML crumbles over 6% due to sector-specific risks and economic slowdown concerns.
ASML's decline is driven by sector-specific risks and economic slowdown concerns, making it relevant and important for investors.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Intel is leading the sell-off with a 21.79% plunge due to disappointing earnings, workforce reduction, and suspension of dividends.
Intel's significant decline is driven by poor earnings, workforce reduction, and suspension of dividends, making it highly relevant and important for investors.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Nvidia is facing pressure due to the U.S.-China standoff and potential regulatory probes, leading to a 4% dip.
Nvidia's decline is influenced by geopolitical tensions and regulatory concerns, making it highly relevant and important for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
GraniteShares 2x Long NVDA Daily ETF (NVDL) fell 7.48%, reflecting Nvidia's performance.
NVDL's decline reflects Nvidia's performance, making it relevant and important for investors.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
VanEck Semiconductor ETF (SMH) fell 3.68% amid sector-wide sell-off.
SMH's decline is part of the broader sector sell-off, making it relevant and important for investors.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Direxion Daily Semiconductor Bull 3X Shares (SOXL) plunged 7.91% amid sector-wide sell-off.
SOXL's significant decline is part of the broader sector sell-off, making it relevant and important for investors.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
The iShares Semiconductor ETF (SOXX) is down about 3% in premarket trading, adding to the 7%+ drop seen on Thursday.
SOXX's decline reflects the broader weakness in the semiconductor sector, making it relevant and important for investors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70