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
