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- Semiconductor stocks were largely lower on Tuesday as investors cashed in some recent gains to start the second half of the year.
- Nvidia (NASDAQ:NVDA), AMD (NASDAQ:AMD) and Broadcom (NASDAQ:AVGO) led the declines in the sector, down 3% or more. Nvidia was mentioned as one of Wedbush Securities’ top tech stocks to own for the second-half of 2025, due in part to the continued spending on artificial intelligence.
- “Our bullish view is that investors are still underestimating the tidal wave of growth on the horizon from the $2 trillion of spending over the next 3 years coming from enterprise and government spending around AI technology and use cases,” analysts at the firm wrote in a note.
- Also seeing declines were Micron Technology (MU), which fell 2%. Qualcomm (QCOM), Analog Devices (ADI), Texas Instruments (TXN) and NXP Semiconductors (NXPI) all fell fractionally.
- Bucking the trend were Intel (INTC), which rose 1.8%, and On Semiconductor (ON), which tacked on nearly 1% in late morning trading.
- GlobalFoundries (GFS) also moved higher — up nearly 2.5% — after investment firm Argus initiated coverage with a Buy rating late on Monday. “The company has lagged industry leaders such as Taiwan Semiconductor and other merchant fabs both in output and technology,” analysts at the firm wrote in a note to clients. “We believe, however, that GlobalFoundries is positioned for multiple years of growth given the urgency to onshore semiconductor production as a national strategic priority.”