Semiconductor stocks are having a difficult month. Higher interest rates are driving technology valuation multiples lower, but there is also additional evidence an anticipated industry rebound might be farther out.
First, there are memory demand trends. Memory chips are important because they are found inside nearly every electronic device. The latest checks suggest no comeback for memory, and the chip industry recovery isn’t here yet. “Overall DRAM demand with large enterprise and cloud customers is still mixed at best,” he wrote. “We believe it may be a little too early to step into the stock, and thus, we choose to stay on the sidelines.”
It was “a mixed bag in August,” he wrote. “Macroeconomic challenges felt in 1H23 [first half 2023] will continue to be felt across semis now well into the 2H.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nvidia, other US chip stocks stall over valuation, industry worriesSome of the shine is wearing off shares of Nvidia and other U.S. semiconductor companies after a stunning 2023 rally, as investors weigh steep valuations, rising Treasury yields and signs of industry unease.
Source: Reuters - 🏆 2. / 97 Read more »
Cramer: Buy stocks now to catch the rally when the Fed ends its tightening cycleHere's what really matters: money can and will be made in this market, despite the headwinds.
Source: CNBC - 🏆 12. / 72 Read more »
Japanese stocks fall for third day as Hong Kong stocks dropStocks in the Asia-Pacific region mostly tumbled Thursday, Sept. 21, with shares in Hong Kong declining for the second day and the Japanese market showing a...
Source: MarketWatch - 🏆 3. / 97 Read more »
Japanese stocks fall for fourth session as Hong Kong stocks gainAsia-Pacific stocks mostly increased Friday, Sept. 22, the Japanese market showing a fourth day of decreases. Hong Kong's Hang Seng Index gained 2.3% to...
Source: MarketWatch - 🏆 3. / 97 Read more »
Pentagon announces eight microelectronics hubs across US to bolster chip industryThe Department of Defense announced the establishment of eight regional microelectronic hubs on Wednesday in a concerted effort to bolster domestic semiconductor production.
Source: dcexaminer - 🏆 6. / 94 Read more »