Chipmaker Rout Worsens as Peak Smartphone Fears Punish Suppliers
- Semiconductors in S&P 500 trade at lowest price in 7 weeks
- Apple Inc., PC companies report dissapointing forecasts
Has Apple's Hot Streak Come to an End?
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Concern that Apple Inc.’s sales travails signal the end to the boon period for smartphone makers sent semiconductor stocks into a tailspin.
A plunge of as much as 3.2 percent in makers of computer chips wiped away more than $15 billion in value, as concern that slowing sales of Apple’s iPhones will damp demand for the semiconductors that power them. All 16 members of the Standard & Poor’s 500 subindex that tracks the group tumbled, led by Skyworks Solutions Inc.’s plunge of 7 percent, the most since October.