The iShares Semiconductor ETF $SOXX dropped 17% in October, breaking below its 200-day moving average. $SMH
October moves:
$INTC = down over 45%
$AMD = down nearly 17%
$MU = down nearly 17%
Agar Capital warned semiconductor valuations remain vulnerable to margin normalization, targeting key support at $471.
Despite the selloff, $NVDA delivered 83.4% revenue growth with a PEG ratio of 0.44.
Seeking Alpha Quant Rating for Nvidia: Strong Buy.
Seeking Alpha Quant Rating for AMD: Strong Buy.
Seeking Alpha Quant Rating for Micron: Strong Buy.
Seeking Alpha Quant Rating for Intel: Hold, flagged by a D+ grade in EPS Revisions alongside negative net margins.
Even after October's decline, the semiconductor ETF remains up 56.6% year to date.
Is this a buying opportunity or the start of a deeper chip correction?