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Samsung leads chip stock comeback

In this article:
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Yahoo Finance Live's Jared Blikre breaks down the chart of the day.

Video Transcript

JARED BLIKRE: And now time for our chart of the day. Chip stocks are jumping today after Samsung reported better than expected revenue. Looking at the YFi Interactive here, many of these names are having their best day in weeks, including the Philly Semiconductor Index itself. And let's just plot what's going on here. So this is a one-day view. Nice to see all this green, not one red name in our basket here. This is what's happened over the last month. A lot of dark red in the screen. And I've been comparing this to what's been happening in software.

Now semiconductors are much more levered and cyclical, levered to the economy because they are cyclical. Software, if it's SaaS, if it's software as a service, they're going to have more stable revenues. Now, today in software, let's check out what's happening, a lot of green here, too. But AMD and Nvidia, if you take a look at their drawdowns, and ASML as well, most of the charts are going to look like this. So this is a cyclicality that we're talking about. Have we found a bottom just yet? Probably not, but as I said, nice to see some green on the screen. And coming up--

AKIKO FUJITA: Yeah, Jared, it feels like, in many ways, this is kind of a relief, too, right, coming on the back of commentary we've gotten from companies like a Micron or an AMD about softening demands on chips. I mean, that was-- there seems to be concern about with inflation peaking and some weakening consumer demand on some of these products that chip demand may not be at where it has been over the last several years. And here comes Samsung saying 20% jump in revenue.

JARED BLIKRE: Yeah, nice to see there. I can't argue. It's nice to get some good news in the space here, Akiko.