Chip stocks are on the move Friday and we’re diving into the news pushing shares lower today!
So why are chip stocks taking a beating? For one thing, the market is feeling it today as investors flee risking stocks with rising inflation. For another, Bitcoin (CCC:BTC-USD) dropped in price today, which can have a negative effect on computer part companies.
Of course, we also have to tackle the latest news from Intel (NASDAQ:INTC). The chipmaker is expanding its production capabilities with two new plants. Even more interesting is the fact these plants will be built in Ohio.
Keeping these factors in mind, let’s go over the latest chip stocks movement below!
Chip Stocks On the Move Today
- Nvidia (NASDAQ:NVDA) shares are still down slightly as of Friday afternoon. Alongside that is some 47 million shares on the move. The company’s daily average trading volume is just above that at 47.7 million shares.
- Applied Materials (NASDAQ:AMAT) stock is up next with shares up slightly following a heavy dip earlier this morning. With that comes almost 7 million units moving, as compared to its daily average trading volume of 7.5 million shares.
- Advanced Micro Devices (NASDAQ:AMD) shares are another that was down earlier but has since recovered from that fall. In this case, the company’s moved nearly as many shares as its daily average trading volume of 61.6 million.
- Micron Technology (NASDAQ:MU) stock is still slipping today with shares down 2.3% as of this writing. That comes with 17 million shares traded, as compared to the daily average trading volume of 19.7 million shares.
There’s more stock market news for traders to dive into below!
InvestorPlace has all the most recent stock news for traders to read about. Among that is what’s happening with EV stocks, BTC mining stocks, and more. You can find out all about these matters by checking out the following links!
More Friday Stock Market News
- Electric Vehicle (EV) Stocks: Why RIVN, TSLA, NIO, LI and XPEV Are Backing Up Today
- Bitcoin Mining Stocks Alert: Why Are MARA, GREE, SDIG, IREN, RIOT Stocks Stumbling Today?
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
