SGH - Semi stocks dip after Intel's weak Q3 data center performance
The Philadelphia Semiconductor Index is lagging behind the broader tech sector (XLK), down 1.3% vs. 0.9%, after Intel's Q3 Data Center Group sales fell 7% Y/Y and missed consensus estimates. The company guided for a 25% decline in Data-centric revenue for Q4.Earlier this week, Intel confirmed selling its NAND business to rival SK Hynix for $9B, which provided a temporary rally for other NAND players Micron ([[MU]] -3.2%) and Western Digital ([[WDC]] -3.1%).Micron and Western Digital are both trading down after Seagate reported a FQ1 revenue miss, driven by weak enterprise and flash sales.Other semi names seeing red: Pixelworks ([[PXLW]] -5.0%), United Microelectronics ([[UMC]] -4.5%), Applied Optoelectonics ([[AAOI]] -2.2%), and SMART Global Holdings ([[SGH]] -1.3%).Previously: Seagate slides after FQ1 sales miss on enterprise weakness, pulling down Western Digital (Oct. 22 2020)Previously: Intel shares plunge after Q3 data center sales fall 7%, missing estimates (Oct. 22 2020)Here's a look at how the VanEck Vectors Semiconductor
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Semi stocks dip after Intel's weak Q3 data center performance