European Chipmakers' Shares Fall for Third Consecutive Day
Europe's semiconductor sector remained under pressure on Monday. Shares of ASML, ASM International, BE Semiconductor, ams-OSRAM, and Siltronic declined by 1% to 3%, continuing the negative trend that began last week.
The selling wave started following Broadcom's quarterly report. Investors remained disappointed because, despite growing demand for artificial intelligence chips, the company left its revenue forecast for AI-related business unchanged at $100 billion for 2027.
Negative sentiment spread across the entire global technology sector. The PHLX Semiconductor Index fell 10.3% on Friday, marking the largest single-day decline since the pandemic crisis of 2020.
Against this backdrop, NVIDIA's shares declined by approximately 6%, Micron Technology fell 13%, while Marvell Technology and Advanced Micro Devices lost 17% and 11%, respectively.
