I have to wonder if Apple isn't playing a game with QCOM, awarding Intel the modem contract in order to further pressure them into accepting AVGO's offer.
Semiconductor slump on Morgan Stanley concerns, Qualcomm news, ON earnings
Feb. 5, 2018 3:45 PM ET|By: Brandy Betz, SA News Editor
Semiconductors slump heading towards today’s close after ON Semiconductor’s ( ON -4%) earnings report and news that Qualcomm ( QCOM -5.8%) has a final offer from Broadcom ( AVGO -1.4%) and could miss out on supplying the next iPhone.
Morgan Stanley was also out with a note that downgraded the tech sector and said chip stocks are at risk from poor iPhone sales and rising inventory levels.
The Philadelphia Semiconductor Index is down 2.6%.
Other semiconductor shares on the move: Advanced Micro Devices ( AMD -8%), Cypress Semiconductor ( CY -7.4%), Maxim Integrated ( MXIM -2.3%), Teradyne ( TER -1.9%), Lam Research ( LRCX -3%), STMicroelectronics ( STM -1.1%), Xilinx ( XLNX -3.6%), ASML ( ASML -2.3%), Micron ( MU -2%), Analog Devices ( ADI -2.6%), Cirrus Logic ( CRUS -3.1%), Seagate Technology ( STX -2.6%).
Semiconductor ETFs: SOXL, SOXX, SMH, USD, PSI, XSD, SOXS, SSG, FTXL, XTH
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