The volatile macroeconomic environment seems to have had an impact on semiconductor companies as global chip sales slumped by 4% in February to around $39.7 billion. This is a decline of 20.7% year-over-year, according to a report from the Semiconductor Industry Association (SIA).
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While the Asia Pacific (except for Japan and China) region had the biggest sales decline of 22.1% year-over-year, the Americas saw its sales drop year-over-year by 14.8%.
Among the chip stocks, Nvidia (NVDA), AMD (AMD), Broadcom (AVGO), and Marvell Technologies (MRVL) were all down in morning trading on Tuesday.
The iShares Semiconductor ETF (SOXX) has gained around 2.5% in the past five trading sessions.
