Chipmakers Are Fighting a Three-Front Battle This Week
- Growth, trade, earnings make for ‘fugly’ semiconductor selloff
- Apple, caught in downdraft, only FANG to retreat in week
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It was chipmakers’ turn behind the tech woodshed this week, as investors punished shares of the leading producers of computer hardware.
Semiconductor stocks sank a third day Friday, with losses spilling over to Apple Inc. as concerns mounted that smartphone demand would derail earnings growth at the same time China and the U.S. skirmish on the trade front. Meanwhile, the Fang cohort of megacaps, outside of Apple, pushed higher after weeks of struggles. Even Microsoft, a sometimes member of the acronym, rose.