Why Intel, Broadcom, and Applied Materials Plunged Today
Shares of chip stocks (NASDAQ: INTC), Broadcom (NASDAQ: AVGO), and semi-cap equipment maker Applied Materials (NASDAQ: AMAT) were falling on Friday, down as much as 2.7%, 2.9%, and 4.7% at their lows of the day, respectively.
These all-star semiconductor stocks had been on a tear this year, with Intel and Applied Materials rising about 50% and Broadcom up about 58% on the year amid artificial intelligence (AI) enthusiasm and the hopes the broader semiconductor downturn may be ending.
But these stocks had a big pullback on Friday, after Reuters reported that Taiwan Semiconductor Manufacturing (NYSE: TSM), the largest chip foundry in the world, had asked equipment makers to delay or push back orders of new equipment.
Source Fool.com
Intel Corp. Stock
€78.87
-0.790%
Currently there is a rather positive sentiment for Intel Corp. with 47 Buy predictions and 24 Sell predictions.
However, we have a potential of -4.91% for Intel Corp. as the target price of 75 € is below the current price of 78.87 €.
