Struggle
Semiconductor stocks remained volatile entering September, despite data showing near-record sales this summer.
Global semiconductor industry sales totaled $53.1 billion in July, according to data from the Semiconductor Industry Association. This represented an increase of almost 3% from the previous month and a gain of $1 billion. of almost 19% year over year.
“The global semiconductor market continued to grow substantially year-over-year in July, with monthly sales increasing for the fourth consecutive month,” said John Neuffer, SIA’s president and CEO. “The Americas market experienced particularly strong growth in July, with sales up 40.1% year-over-year.”
The three-month moving average for May, June and July was $51.32 billion after reaching $47.1 billion during February, March and April.
July sales were also the second-highest on record for the month, with only July 2022 showing slightly higher sales based on data going back to 2004.
Still, near-record sales in recent months appear to be doing little to calm the volatility in semiconductor stocks in recent months. The Philadelphia Semiconductor Index (Ankle socks) was fell by 7.5% due to late afternoon operations. It fell by 19% since July 10. Despite the recent collapse, it remains up to 14.5% year to date and is 31% higher than a year ago.
A number of semiconductor stocks fell on Tuesday, including Nvidia (NASDAQ: NVDA), Intel (NASDAQ:INTC), Advanced Micro Devices (NASDAQ:AMD), Broadcom (NASDAQ:AVGO), Micron Technology (NASDAQ:MU) and Taiwan Semiconductor Manufacturing Company (New York Stock Exchange: TSM).