Why Intel, Broadcom, and Applied Materials Plunged Today
Shares of chip stocks (NASDAQ: INTC), Broadcom (NASDAQ: AVGO), and semi-cap equipment maker Applied Materials (NASDAQ: AMAT) were falling on Friday, down as much as 2.7%, 2.9%, and 4.7% at their lows of the day, respectively.
These all-star semiconductor stocks had been on a tear this year, with Intel and Applied Materials rising about 50% and Broadcom up about 58% on the year amid artificial intelligence (AI) enthusiasm and the hopes the broader semiconductor downturn may be ending.
But these stocks had a big pullback on Friday, after Reuters reported that Taiwan Semiconductor Manufacturing (NYSE: TSM), the largest chip foundry in the world, had asked equipment makers to delay or push back orders of new equipment.
Source Fool.com
Intel Corp. Stock
€29.14
1.640%
Currently there is a rather positive sentiment for Intel Corp. with 23 Buy predictions and 12 Sell predictions.
As a result the target price of 38 € shows a positive potential of 30.4% compared to the current price of 29.14 € for Intel Corp..
