2024-07-22 19:36:17 ET
What a difference a week can make on the stock market.
This truism seemed to be very much in force for microchip stocks on Monday. After last week's sell-off, many got off to a roaring start with the new trading week. Asian powerhouse Taiwan Semiconductor Manufacturing (NYSE: TSM) rose by over 2% on the day, as did its busy U.S. peer Broadcom (NASDAQ: AVGO) . Lapping them both was chipmaking equipment specialist Lam Research (NASDAQ: LRCX) , which posted a nearly 7% gain.
Whenever a sector or stock is hit by a widespread investor sell-off, discount hunters wait in the wings for a good time to buy on the cheap.
For further details see:
Why Chip Stocks Bounced Higher on Monday