Semiconductor ETFs Take A Beating, Dragged Lower By Nvidia, AMD, and Broadcom Stocks
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 06 2024
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Source: Benzinga
Market Performance: Semiconductor and AI-linked stocks, particularly Nvidia, AMD, and Taiwan Semiconductor, have experienced a significant selloff, with major ETFs like VanEck Semiconductor ETF and iShares Semiconductor ETF down 12% in the last five days.
Earnings Reports: Despite strong earnings from Nvidia and Broadcom, which exceeded analyst expectations, the overall market sentiment remains negative, leading to declines in stock prices for these companies and related ETFs.
Analyst Views on SOXX
Wall Street analysts forecast SOXX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SOXX 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: 348.140
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Current: 348.140
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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.
