Semiconductor Shares Tumble. SOXL Down Nearly 30%; Micron Down 16%; Broadcom, ARM Down About 10%; Nvidia Down 7.8%
Semiconductor shares tumbled on Thursday. SOXL down nearly 30%; Micron down 16%; Marvell down 12%; Broadcom, ARM down about 10%.
Nvidia Corp.'s stock $(NVDA)$ fell 7.8%, even though semiconductors were exempt from tariffs. But that doesn't tell the whole story, according to Wolfe Research analyst Chris Caso.
"The much more significant impact is, rather, the tariffs that will be imposed on finished goods containing semiconductors, most of which are exported from countries for which very high reciprocal tariffs will be applied, and there are no feasible alternatives for supply," he wrote.
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