Intel Dips as Other Chips Rise

Intel shares are bucking a rally in semiconductor stocks after the company's chairman said he's not sure when a recovery will happen.
Author:
Publish date:

With the exception of Intel, semiconductor stocks were holding on to gains as Wednesday's trading session wound to a close.

Intel

(INTC) - Get Report

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) - Get Report

was up 2.5% to $16.77.

Advanced Micro Devices

(AMD) - Get Report

was up 4.1% to $3.58.

STMicroelectronics

(STM) - Get Report

was up 6.6% to $5.64.

Broadcom

(BRCM)

was up 4% to $21.87.

Qualcomm

(QCOM) - Get Report

was up 1.3% to $39.87.

Applied Materials

(AMAT) - Get Report

was up 1% to $10.65.

Nvidia

(NVDA) - Get Report

was up 2.8% to $11.27.