Skip to content

Chip Stocks Roar Back as Market Darlings After Mauling by Bears

  • Manufacturers beat and China mobile shipments are up 9%
  • Sales for cloud computing, AI good for bottom line: Cincotta
Bloomberg business news
Chips Bill Heads to Senate Vote Amid Last-Minute Changes
Updated on

Battered in the June selloff that sent American equities into a bear market, chipmaker stocks are staging a stunning rebound this month.

Bolstered by evidence that supply-chain issues are easing and demand is growing, the Philadelphia Stock Exchange Semiconductor Index has surged 19% since July 1 handily outpacing the broader market rebound after the group’s valuation sank to the lowest level in three years. It continued its run Thursday, gaining 1.5%.