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Nvidia, AMD, and Micron stocks lead chip sector higher following worst sell-off since 2020
Yahoo Finance • • business
Key Points:
- Chip stocks rebounded strongly on Friday after experiencing their worst sell-off since 2020, with the PHLX Semiconductor Index rising 4% following a 12% drop the previous day.
- Intel shares increased about 7%, AMD rebounded 11%, and Nvidia climbed over 2%, recovering some losses from the prior session.
- The rebound came as investors reassessed the impact of a Democratic win in Congress on the US data center build-out and the AI trade.
- Memory and storage companies Sandisk, Micron Technology, and SK Hynix also saw gains, alongside processor maker Qualcomm and chip designer Arm Holdings.
- The market movements reflect renewed optimism in semiconductor stocks after a sharp correction driven by political and sector-specific concerns.
