Nvidia Stock Is Rising, but Chipmakers Are Having Their Worst Week Since January

Chip stocks are heading for their second-worst week of the year.

The PHLX Semiconductor Index is edging lower on Friday, bringing this week’s losses to about 3.9%.

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Nvidia Stock Is Rising, but Chip stocks are heading for their second-worst week of the year.

The PHLX Semiconductor Index is edging lower on Friday, bringing this week’s losses to about 3.9% according to Dow Jones Market Data#NVIDIA #chip #stocks pic.twitter.com/42rBP6kfXy

— The_Journalbiz (@the_journalbiz) March 15, 2024

Factset chart

That’s the index’s worst performance since the week that ended Jan. 5, according to Dow Jones Market Data, when it dropped 5.8%.

AMD has lost about 7.5% on the week despite rising on Friday, on pace for the worst week since June. Broadcom is down 5%.

The sector has many of the market’s best-performing stocks in the year, so a slip-up is noteworthy.

On the bright side, Nvidia has posted gains for the week, and the index is still up 14.5% in 2024 even after the selloff.

• NVIDIA Corp.
• NVDA (U.S.: Nasdaq)
• $892.39 USD12.951.47%
• PHLX Semiconductor Index
• SOX (Nasdaq)
• 4778.29-5.35-0.11%
• Advanced Micro Devices Inc.
• AMD (U.S.: Nasdaq)
• $192.71 USD5.65

@thejournalbiz

Source:WSJ/Factset

Image: Nvidia