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Chip Stocks Still Below Levels Seen Before Last Week’s SellOff
Barrons.com43d agobearish
Chip Stocks Still Below Levels Seen Before Last Week’s SellOff

The PHLX Semiconductor Index is up 3.5%, fueling the Nasdaq and S&P 500’s respective 1.3% and 0.7% gains, but the chip index hasn’t climbed back to levels seen before last week’s selloff. Morgan Stanley Chief Investment Officer Mike Wilson said this underperformance in chip stocks is helping the broadening trade.

Chip Stocks Lead Early Market Gains. Nasdaq Jumps, Dow Falls.
Barrons.com43d agoneutral
Chip Stocks Lead Early Market Gains. Nasdaq Jumps, Dow Falls.

Wall Street returned from the long weekend ready to buy the dip in chip stocks. The Nasdaq was up 0.9%. After opening higher, the Dow was down 190 points, or 0.3%. The S&P 500 was up 0.4%. The iShares Semiconductor ETF, which was battered late in the holiday-shortened week, was rallying back again.

Micron Stock Selloff Is a Buying Opportunity, Analyst Says
Barrons.com43d agobullish
Micron Stock Selloff Is a Buying Opportunity, Analyst Says

Micron Technology and its memory-chip peers have suffered a small dent in the past week, after racking up huge gains in recent months. Micron shares have fallen 14% in the past five trading sessions, although the stock was up 3.3% to $1,007.26 in Monday’s premarket, along with the the and the There was no clear reason for the selloff beyond nervousness around the wider technology sector.