[FLASH] US chip stocks end 8-day slide on Oct 19 as Korean memory names extend losses on Oct 20
The Philadelphia Semiconductor Index rose on Oct 19, by 1.6% according to Investing.com and TradingKey and by 2% according to Yahoo Finance. That ended an eight-session losing streak, which Investing.com described as the longest since 2008. Yahoo Finance reported Intel up as much as 5% intraday after a JPMorgan upgrade, with Nvidia, AMD, Arm and Micron also higher. The rebound did not carry into Asia on Oct 20. Investing.com reported the KOSPI down 2.5%, SK Hynix down 3.5% and heading for its weakest close since April, and Samsung Electronics down 1.8%, citing renewed concerns about how the AI build-out is financed and whether it will be profitable. Investing.com listed results due this week from Netflix, SpaceX, Meta, Tesla and IBM, with Meta's capex plans a particular focus for the AI trade.