2 Chip Stocks Suffering Amid China Crackdown
AMDAMD(AMD) Schaeffers Investment Research·2024-07-17 22:13

Investors are rotating out of tech this morning, particularly the semiconductor sector, after reports that the Biden administration will tighten trade restrictions on the chip industry due to China concerns. In addition to Nvidia (NVDA), Micron Technology Inc (NASDAQ:MU) and Advanced Micro Devices, Inc. (NASDAQ:AMD) are also feeling the burn today.MU is down 3.8% to trade at 122.62atlastglance,afteryesterdaybreachingsupportatthe122.62 at last glance, after yesterday breaching support at the 130 region amid overhead pressure from the 20-day moving average. Sh ...