Why Semiconductor Stocks Broadcom, AMD, and Arm Holdings Rallied Today
Shares of major semiconductor stocks Broadcom (NASDAQ: AVGO), Advanced Micro Devices (NASDAQ: AMD), and Arm Holdings (NASDAQ: ARM) rallied on Tuesday, rising 3%, 3.9%, and 5.3%, respectively.Chip stocks generally had a good day, as President Trump announced a delay to his threat of 50% tariffs on European Union goods to July 9, seemingly paving the way for negotiations. In addition, a "soft" economic indicator in May's Consumer Confidence readings bounced back in a big way from its April plunge.Finally, several major chip manufacturers submitted letters to the Department of Commerce regarding upcoming potential semiconductor tariffs. Included was a threat from Taiwan Semiconductor Manufacturing (NYSE: TSM) that significant tariffs could derail its announced U.S. projects. Of note, all three of these companies produce their chips at TSMC's Taiwan fabs currently.Continue reading
Shares of major semiconductor stocks Broadcom (NASDAQ: AVGO), Advanced Micro Devices (NASDAQ: AMD), and Arm Holdings (NASDAQ: ARM) rallied on Tuesday, rising 3%, 3.9%, and 5.3%, respectively.
Chip stocks generally had a good day, as President Trump announced a delay to his threat of 50% tariffs on European Union goods to July 9, seemingly paving the way for negotiations. In addition, a "soft" economic indicator in May's Consumer Confidence readings bounced back in a big way from its April plunge.
Finally, several major chip manufacturers submitted letters to the Department of Commerce regarding upcoming potential semiconductor tariffs. Included was a threat from Taiwan Semiconductor Manufacturing (NYSE: TSM) that significant tariffs could derail its announced U.S. projects. Of note, all three of these companies produce their chips at TSMC's Taiwan fabs currently.
