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Chip stocks slid for a fifth straight day Wednesday.
The sector has been among the hardest hit during the sell-off.
Watch Nvidia, Intel and AMD trade here in real time.

The carnage in the chip stocks continued for a fifth straight day Wednesday, making it one of the hardest hit sectors during the recent sell-off.

The Philadelphia Semiconductor Index tumbled 4.4%, running its loss to 9.5% over its five-day losing streak.

Since the beginning of October, AMD shares have tanked more than 18% and rival Nvidia has lost 15%. The tech-heavy Nasdaq 100 index has slumped 7%. Meanwhile, Intel has outperformed, down just 3%, boosted by the possibility it may begin to speed up the production of its 10-nanometer processors faster than expected.

The heavy selling in the space comes as investor have begun to book some of the huge profits they have made this year. Even after the October selling, AMD is up 127% and Nvidia has gained 22%.

The semiconductor industry has been under pressure for the past few days as demand in the PC market has caught the chipmakers by surprise. Analysts have predicted more pressure in the near future with the sector entering into a “cyclical …read more


Source:: Businessinsider – Finance

      

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