AI Hangover Weighs On Chipmaker Shares Even With Solid Results
- Key gauge of chip stocks trading well below its summer high
- ‘We are not out of the woods,’ DS Asset fund manager says
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Signs of recovery in smartphone and computer demand have yet to provide the next tailwind for chip stocks as they languish below the heights of this year’s artificial intelligence rally.
Earnings reports from Intel Corp. and Samsung Electronics Co. were optimistic, indicating the worst may be over for electronics end-markets. Taiwan Semiconductor Manufacturing Co. was similarly positive on demand for traditional chips while also providing further evidence that the boom in cutting-edge AI tech will continue.