AI-focused semiconductor stocks tumbled on Friday, with shares of Advanced Micro Devices (AMD), Marvell Technology, Intel and Micron Technology emerging among the biggest losers on the Nasdaq as a broad selloff swept through the chip sector.
The decline followed a steep fall in Broadcom shares after investors reacted negatively to the company's outlook despite strong quarterly earnings. The weakness spread across semiconductor counters, prompting a reassessment of growth expectations tied to the artificial intelligence boom.
As of 10:06 a.m. EDT (7:36 p.m. IST) on June 5, AMD shares were down 6.44% at $489.50, shedding $33.70 from the previous close.
ALSO READ: US Stock Market Today: AI Chip Rout Drags Nasdaq 2% To Day's Low; S&P 500, Dow In Red
Marvell Technology shares slumped 8.57% to $289.30, losing $27.12 and ranking among the session's worst performers.
Intel stock fell 6.65% to $104.34, down $7.43, while Micron Technology declined 7.38% to $922.54, erasing $73.46 in market value.
According to Reuters, Broadcom's sharp decline clouded investor sentiment around the AI trade despite continued demand for AI infrastructure and custom chips. Analysts cited concerns that investors were expecting stronger long-term AI revenue projections from the company.
The selloff also weighed on the broader semiconductor space, with market participants increasingly differentiating between companies expected to capture the largest share of AI-related spending and those facing more challenging growth comparisons.
ALSO READ: India's Forex Kitty Jumps By Over $900 Million; Gold Reserves Decline
Despite Friday's decline, several analysts remain optimistic about the long-term outlook for AI-driven semiconductor demand, pointing to sustained investments in data centres, advanced processors and high-bandwidth memory technologies, Reuters reported.
from NDTV News- Special https://ift.tt/8KHiZIe
Posts
