Chip Stocks Fall Over 5% As Micron, Intel, Nvidia, AMD, SK Hynix And SanDisk Trade Lower
https://ift.tt/8mj6Hrz Semiconductor chip companies' stock futures fell as much as 5% after the opening bell on Monday, after China's memory chipmaker CXMT announced significant progress on a new, high-density chip structure, ramping up competitive pressure. Other factors include the wider selloff of South Korean AI stocks such as SK Hynix and Samsung Electronics. This comes amid rising concern regarding the return on investment from AI aftter massive infrastructure spending by companies in the sector. SanDisk Corp. saw a decline of 5.43% to $1,495.96 after the opening bell, while Micron Technology Inc's stock price traded at a downturn of 4.14% to $986.36. SK Hynix was trading with a downturn of 3.89% at $162.45 apiece. ALSO READ: 'Refining Is In A Sweet Spot': Why $100-Plus Crude Is Splitting India's Oil Stocks Intel Corp' stock price decreased by 2.62% to $101.96 during early trade. Share price of Nvidia Corp's share price was trading at a down...