Why are big chip stocks under pressure? SK Hynix, AMD, Intel, Nvidia fall up to 6.5%; is the AI rally losing steam?
New Delhi, Sept. 10 -- SK Hynix, Micron Technology, Intel and Advanced Micro Devices (AMD) were among the chip stocks trading with losses of up to 6.5% in Thursday's trade, September 10, as investors appeared to book profits in these counters following their recent run-up amid escalating tensions in West Asia.
Following a three-day winning streak, SK Hynix shares reversed their gains, dropping 6% to hit the day's low of $187. In the previous session, the stock had climbed to a fresh peak of $191, marking a new milestone since its ADR debut in July.
Similarly, Micron Technology shares slipped 4.20% to $982, while Advanced Micro Devices (AMD) fell 3% to $504 and was on track to snap its three-day winning streak.
Intel was also on track t...
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