Why Qualcomm, Micron Technology, and Skyworks Solutions Fell Today

Shares of Qualcomm (NASDAQ: QCOM), Micron Technology (NASDAQ: MU), and Skyworks Solutions (NASDAQ: SWKS) fell today after the world's largest contract chipmaker, Taiwan Semiconductor Manufacturing, reported a drop in its April revenue.

Each of the tech stocks took a hit today as a result of the news, with Qualcomm down 6.3%, Micron tumbling 5.6%, and Skyworks sliding 4.8% as of 3:39 p.m. EDT.

Taiwan Semiconductor said today that its April sales fell by 13.8% from March. Despite the drop, the company's April revenue was up 16% year over year. The semiconductor maker also noted that its revenue in the first three months of this year was up 16.5% from 2020.

Source Fool.com