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).
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%.
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Among the chip stocks, Nvidia (NVDA), AMD (AMD), Broadcom (AVGO), and Marvell Technologies (MRVL) were all down in morning trading on Tuesday.
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The iShares Semiconductor ETF (SOXX) has gained around 2.5% in the past five trading sessions.