Semiconductor stocks decline – Intel & Co. under pressure

Semiconductor stocks started the month of September with significant losses. The monthly sales figures from the US Semiconductor Industry Association were partly responsible for this.

US stock markets started the month of September weak after the long Labor Day weekend. The Dow Jones fell by 1.51% to 40,936 points. The tech-heavy Nasdaq 100 dropped 3.15%, ending at 18,958 points. The broad-market S&P 500 declined by 2.12%, closing the trading day at 5,528 points.

The poor performance of semiconductor stocks stood out in particular. Industry leader Nvidia, which had benefited like few others in recent months from enthusiasm for artificial intelligence applications, dropped by 9.53%. Intel’s stock, which had recently seen slight gains, fell by 8.80%. AMD closed with a 7.82% loss, and ON Semiconductor dropped by 9.13%.

Disappointing sales figures in the semiconductor industry

The poor sentiment was partly due to the monthly sales figures released by the Semiconductor Industry Association. Although there was an 18.7% increase compared to July 2023, the sector still lagged behind seasonal trends, according to experts.

Additionally, the quarterly earnings report released last week by graphics card specialist Nvidia may have had lingering effects. Despite the company once again reporting record revenues, it failed to meet the lofty market expectations.

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