- The technology sector (NYSEARCA:XLK) gains 1% and recovers from yesterday’s fall, which started when Apple (NASDAQ:AAPL) supplier Lumentum cut its guidance based on reduced customer orders. Apple and its suppliers are recovering despite Qorvo cutting its guidance and Foxconn reporting a profit miss.
- The S&P 500 IT Index is up 0.9% and the Philadelphia Semiconductor gains 2.2%, compared to the 0.5% gain for the S&P 500 and 0.8% for Nasdaq.
- Related semiconductor ETFs: SOXL, SOXX, SMH, USD, PSI, XSD, SOXS, SSG, FTXL, XTH
- Top stories from the morning:
- Previously: WeWork raises $3B (Nov. 13)
- Previously: Amazon (NASDAQ:AMZN) picks NYC, Northern Virginia for HQ2 (Nov. 12)
- Previously: Amazon to set operations hub in Nashville, with 5,000 jobs (Nov. 13)
- Previously: NYC gives Amazon $1.5B incentive for split HQ2 (Nov. 13)
- Previously: Foxconn misses Q3 profit estimates (Nov. 13)
- Previously: Apple supplier Qorvo cuts Q3 guidance (Nov. 13)
- Previously: Apple suppliers recover despite Qorvo guide cut (Nov. 13)
- Now read: Chip Stocks: Patience And A Long-Term Perspective Will Lead To Your Financial Success
Original article