Qualcomm, Broadcom Aside, Chip Stocks Fall

Semiconductor stocks are largely in the red toward the end of the trading day Monday despite solid earnings from Qualcomm.
Author:
Publish date:

Updated from 4:05 p.m. EDT

Semiconductor stocks were largely in the red Monday despite a solid second-quarter

earnings report

from

Qualcomm

(QCOM) - Get Report

.

Qualcomm raised its sales guidance for the year after reporting sales of $2.46 billion, beating top-line estimates of $2.35 billion. For the year, Qualcomm expects sales in the range of $9.8 billion to $10.2 billion. Analysts had expected $9.69 billion. Qualcomm shares rose 4.4% to $43.17.

Qualcomm's earnings release precedes a report Sunday that the company had

settled

a dispute with

Broadcom

(BRCM)

for $891 million, $200 million of which Qualcomm will pay in the quarter ended June 30. Broadcom shares rose 0.7% to $24.38.

Among other widely held semiconductor stocks:

Texas Instruments

(TXN) - Get Report

fell 2.3% to $17.47.

Intel

(INTC) - Get Report

fell 2.2% to $15.28.

Advanced Micro Devices

(AMD) - Get Report

fell 1.1% to $3.47.

Nvidia

(NVDA) - Get Report

fell 3.6% to $11.02.