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.Most Read from BloombergAuthor Salman Rushdie Stabbed on Lecture Stage in New YorkAnshu Jain, Deutsche Bank Chief in Trading Heyday, Dies at 59Extreme Heat Uncovers Lost Villages, Ancient Ruins and ShipwrecksTrump Calls for Release of Warrant Documents Used in SearchThe Fed’s Damage to the H