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NEW YORK, Oct 18 - U.S. semiconductor companies will get a closer look from investors in coming weeks, after diverging reports from two industry leaders abroad set off a volatile few days of trading.
"It's vitally important that these chip stocks hold up," said Matt Maley, chief market strategist at Miller Tabak."If they go down, it weighs on the rest of the market." The sector had its share of drama in the past week. Chip shares tumbled on Tuesday after equipment maker ASML ,Europe's biggest tech firm, projected lower-than-expected 2025 sales and bookings. But the group rebounded on Thursday after Taiwan Semiconductor Manufacturing Co ,which produces advanced chips used in AI applications, reported a forecast-beating 54% jump in quarterly profit.
Texas Instruments' products are used in a broad range of applications, including automotive and industrial, and could be a barometer for whether such areas that have been sluggish for the chip industry are starting to rebound, said Daniel Morgan, portfolio manager at Synovus Trust. If AMD's 2025 forecast for its AI chips is strong,"that's going to be bullish for the sector," Maley said.
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