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Technology Stocks : Semi Equipment Analysis
SOXX 312.18-0.2%Dec 9 4:00 PM EST
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From: Sam1/24/2020 8:39:30 AM
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Chip stocks power ahead as Intel signals 2020 industry turnaround



Reuters January 24, 2020 06:11:00 AM ET

* Shares of chip and chip equipment makers rise in premarket trade, after Intel Corp on Thursday signaled a turnaround in the chip industry after a prolonged slowdown

* INTC shares jump 6% to $67.15 premarket - set to touch their highest level in over 19 years, if gains hold

* Company forecast better 2020 revenue and profit than Wall Street anticipated, driven by cloud computing demand

* Shares of Advanced Micro Devices, Micron Technology, Nvidia Corp, rise between 1.6% and 2.4%

* Broadcom Inc up 2.5%; company entered into two multi-year wireless components supply agreements with Apple Inc on Thursday

* Shares of Lam Research Corp, Applied Materials, ON Semiconductor climb between 1% and 1.6%

* The Philadelphia SE Semiconductor index that rose 60% in 2019, its best year in a decade, has been trading at record levels
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