Global chip stocks from Nvidia to ASML fall on geopolitics, Trump comments
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 17 2024
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Source: CNBC
- Global Chip Stocks Decline: ASML, Nvidia, and TSMC experienced drops in stock prices due to reports of stricter U.S. export restrictions on chipmaking equipment to China and escalating geopolitical tensions fueled by comments from former President Trump.
- Geopolitical Concerns Impact Semiconductor Market: Geopolitical tensions, including Trump's remarks on Taiwan and concerns over U.S. defense commitments, contributed to a decline in chip stocks globally, with companies like TSMC and Nvidia being affected.
Analyst Views on SMH
Wall Street analysts forecast SMH stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SMH is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 402.820
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Current: 402.820
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
