Intel Dips as Other Chips Rise
With the exception of Intel, semiconductor stocks were holding on to gains as Wednesday's trading session wound to a close.
Intel (INTC) shares were falling after Chairman Craig Barrett expressed uncertainty about when the chip sector will rebound. According to Reuters, Barrett said government stimulus packages will probably start having an impact in six to 18 months. "So you pick your time that you want the recovery to occur in that six to 18-month period, and your guess is as good as anyone's," he said. Intel's stock was recently down 1.8% to $15.17.
In an otherwise slow news day for semiconductors:
Texas Instruments (TXN) was up 2.5% to $16.77.Advanced Micro Devices (AMD) was up 4.1% to $3.58. STMicroelectronics (STM) was up 6.6% to $5.64. Broadcom (BRCM) was up 4% to $21.87. Qualcomm (QCOM) was up 1.3% to $39.87. Applied Materials (AMAT) was up 1% to $10.65. Nvidia (NVDA) was up 2.8% to $11.27.
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