genai / news / / CNBC
Chip stocks dropped on Tuesday.
Qualcomm dropped 13%, marking its worst trading session since 2020.
KEY POINTS
- Tuesday's chip stock decline followed a higher-than-expected consumer inflation reading.
- The recent chip rally extended the AI trade well beyond Nvidia to other semiconductor firms.
- Memory chip makers are raising prices due to ongoing supply shortages amid AI-driven demand.
COMPANIES
Summarized by Newsio from CNBC. How we summarize →