Chip stocks rebounded on Friday after suffering their worst sell-off since 2020. The PHLX Semiconductor Index (^SOX) rebounded 4% after a 12% drop on Thursday.
Shares of U.S. chipmaker Intel (INTC) jumped about 7%, erasing part of their 10% decline in the previous session. AMD (AMD) also rebounded 11% after suffering a 17% decline. Nvidia (NVDA), down 9% in the previous session, jumped more than 2%.
Semiconductors rebounded after much of the AI trade took a hit on Thursday, as investors digested what Democrats’ congressional victory would mean for U.S. data center construction.
Memory and storage names Sandisk (SNDK), Micron Technology (MU) and SK Hynix (SKHY) also rebounded.
Other notable players rebounding on Friday include processor maker Qualcomm (QCOM) and chip designer Arm Holdings (ARM).
165.41 +8.66 (+5.52%)
Closing: November 6 at 4:00:01 p.m. EST
165.80 +0.39 (+0.24%)
QCOM ARM UM
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