Shares of chip companies plummeted on Friday as investors assessed higher-than-expected inflation and rising tensions between Ukraine and Russia, according to CNBC.
Semiconductor companies were boosted by increased demand during the pandemic and generally reported strong profits and prospects last month.
But investors are turning to lower-risk stocks amid high inflation, with Reuters saying on Friday that chipmakers could face supply problems for key components if Russia invades Ukraine.
Among the biggest losers was AMD, which fell 10% on Friday to $ 113.14 per share. It is noted that the company’s share has fallen about 30% from its highest level last November. Earlier this week, the company announced that it had secured approval for the acquisition of Xilinx, which also fell about 10% today.
Marvell, a fast-growing chip maker, slipped more than 7%.
Nvidia also fell more than 7%, down 30% from last November. On Wednesday the company will announce the financial results of the fourth quarter.
Qualcomm fell more than 5% and has fallen more than 11% so far in 2022. Intel lost more than 2% and Broadcom also fell more than 3%.
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Source: Capital
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