US memory stocks lead semiconductor declines
SOXX•US chipmakers fell premarket, led by memory stocks: Micron lost 2.9% and Sandisk 3.7%, while the iShares Semiconductor ETF slipped 1.4%. The Philadelphia Semiconductor index fell 2.7% on Monday to a three-week low, its fourth straight decline.
1. Chip stocks fall
US chipmakers fell premarket, with the Roundhill Memory ETF down 4.1% and the iShares Semiconductor ETF down 1.4%. Micron shares lost 2.9% and Sandisk shares fell 3.7%; Nvidia and TSMC shares each declined about 0.6%.
2. Recent slide continues
The Philadelphia Semiconductor index fell 2.7% on Monday to a three-week low, extending its losing streak to four sessions. Some analysts pointed to technological advances by China's CXMT that would compete with Samsung and SK Hynix.
