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AMD and Nvidia fell sharply in pre-market on Monday after President Donald Trump threatened to increase tariffs on Chinese goods.
Nvidia, the semiconductor manufacturer, was scheduled to report earnings results after the bell on Thursday.
"Asian markets focused on the technology rally, overshadowing the trade uncertainties" ahead of more talks, one observer said.
Intel’s shares plunge 8% as it misses on revenue and earnings and warns trouble in China could mean more pain to come
In addition to falling shy of analysts fourth-quarter estimates, the chip-making giant offered a disappointing outlook for the first quarter.
Recent developments have put pressure on the semiconductors sector. And many of those issues can be tied into problems facing the broader market.
The selling pressure stemmed from disappointing earnings guidance from Taiwan Semiconductor.
"We continue to view NVDA as the best growth story in large cap," Evercore said.
Shares of AMD (Advanced Micro Devices) jumped as much as 5% Wednesday as unconfirmed takeover rumors circulated around Wall Street, Bloomberg reported.
Broadcom raised its offer to buy Qualcomm by 24% to more than $121 billion in order to bring the chipmaker back into talks after previous offers were rejected.
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