Many semiconductor stocks slumped this year as investors fretted over concerns about slowing sales of PCs and smartphones, the potential overproduction of chips in response to the global chip shortage, and more conservative enterprise spending in a tougher macro environment. As a result, the Philadelphia Semiconductor Sector index has declined about 24% this year as the S&P 500 retreated just 12%.
Growth is the name of the game for these companies, and they're just playing along.
(Bloomberg) -- Huawei Technologies Co. reported its first quarterly sales rise since the end of 2020, as the Chinese telecom gear giant fights to survive the US blacklisting that sank its smartphone business.Revenue ticked up by 1% to 170.6 billion yuan ($25.3 billion) in the three months ended in June, according to Bloomberg calculations based on the company’s first-half revenues of 301.6 billion yuan. It is the company’s first sales growth since the last quarter of 2020, when US sanctions heav