Yahoo Finance Live’s Brad Smith breaks down how stocks are moving in early trading.
The stock market has given investors a difficult time in 2022, which is evident from the 10% decline in the S&P 500 so far. Amazon (NASDAQ: AMZN) and Advanced Micro Devices (NASDAQ: AMD) are two such companies that have borne the brunt of the stock market sell-off. Amazon stock is down 14% so far in 2022, while shares of AMD are down 30%.
A lot of hope is being placed in Intel's (NASDAQ: INTC) Foundry Services business and for good reason. It's not just a pillar of chipzilla's plan to recapture semiconductor industry dominance, it's also an important endeavor as countries around the globe try to localize chip manufacturing. Numerous other chip companies like Nvidia (NASDAQ: NVDA), Advanced Micro Devices (NASDAQ: AMD), and memory chipmaker Micron Technology (NASDAQ: MU) have stated that some end markets for semiconductors (consumer electronics like PCs and smartphones in particular) are in decline after a couple of years of record spending during the pandemic.