Pessimism in Semiconductor Stocks Continues (SMH) (AVGO) (BRCM) (QCOM)
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Semiconductor stocks are getting beaten again today after a bruising comment from Nomura securities analyst Romit Shah painted the entire sector red.
"We cannot make a fundamental argument for being long any semiconductor stocks in today’s environment," commented the analyst.
On a relative basis, Shah favors companies which are part of Apple's supply chain. He also liked what he called "secular losers" which are down 26 percent on average over the past three months.
Companies in Apple's supply chain include Avago (Nasdaq: AVGO), Broadcom
(Nasdaq: BRCM), and QUALCOMM (Nasdaq: QCOM).
Market Vectors Semiconductor ETF (NYSE: SMH) is lower by 1.9 percent intraday on Thursday. On a 5-day chart, SMH is lower by close to 5 percent.
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"We cannot make a fundamental argument for being long any semiconductor stocks in today’s environment," commented the analyst.
On a relative basis, Shah favors companies which are part of Apple's supply chain. He also liked what he called "secular losers" which are down 26 percent on average over the past three months.
Companies in Apple's supply chain include Avago (Nasdaq: AVGO), Broadcom
(Nasdaq: BRCM), and QUALCOMM (Nasdaq: QCOM).
Market Vectors Semiconductor ETF (NYSE: SMH) is lower by 1.9 percent intraday on Thursday. On a 5-day chart, SMH is lower by close to 5 percent.
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