Chip stocks are up today and investors wondering why will find all of the news ready to go on Wednesday!
The increase in chip stocks starts with strong earnings reports in the sector. That includes Advanced Micro Devices (NASDAQ:AMD) beating out Wall Street’s expectations in its latest quarter.
Adding to that are strong results from Samsung. This is one of the largest memory chip makers in the business and its products are used in many artificial intelligence (AI) projects and platforms.
On top of that, geopolitical factors are also sending chip stocks up today. The U.S. is reportedly considering additional bans on sales of semiconductor components to China. However, that ban wouldn’t affect allies, such as Japan, the Netherlands and South Korea. This is a switch from prior reports that said these allies may be affected.
With all of this news comes a rally for chip stocks today. Let’s dig into that below!
Chip Stocks Up Today
- AMD stock starts us off on Wednesday morning with a 7.5% gain for the semiconductor company’s shares.
- Intel (NASDAQ:INTC) stock is climbing 1.7% higher alongside the chip news today.
- Nvidia (NASDAQ:NVDA) stock is experiencing a 10.4% increase as of this writing.
- Taiwan Semiconductor (NYSE:TSM) stock is climbing 5.9% higher this morning.
- Broadcom (NASDAQ:AVGO) stock is heading 8.4% higher on Wednesday.
Investors will want to keep reading for more of the most recent stock market stories today!
We have all of the hottest market happenings worth reading about on Wednesday! That includes everything going on with FibroGen (NASDAQ:FGEN), Microsoft (NASDAQ:MSFT) and Match Group (NASDAQ:MTCH) shares today. You can read up on all of this at the links below!
More Wednesday Stock Market News
- FibroGen Layoffs 2024: What to Know About the Latest FGEN Job Cuts
- MSFT Stock Falls as Microsoft Cloud Revenue Disappoints. What’s Going On?
- Match Group Layoffs 2024: What to Know About the Latest MTCH Job Cuts
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.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
