Chip stocks surge, led by AMD after upgrade

IPG Photonics

17/05/2022 17:14

** Semiconductor shares jumping on Tues, with Philadelphia
SE Semiconductor index  .SOX  up 4.1% vs 1.3% gain for S&P 500
 .SPX  and 1.9% gain for Nasdaq Composite  .IXIC 
    ** Advanced Micro Devices  AMD.O  biggest percentage gainer
in the SOX, rising 7.8%, after upgrade to "overweight" from
Piper Sandler  urn:newsml:reuters.com:*:nL3N2X91Q0
    ** Nvidia  NVDA.O  also giving big lift to the SOX, rising
4.8%
    ** NVDA and AMD the fourth- and sixth-biggest boosts,
respectively, to S&P 500 as of late morning
    ** Other gainers include Lattice Semiconductor  LSCC.O  up
5.9% and IPG Photonics  IPGP.O  up 5.2%
    ** YTD, the SOX index is now down 23% vs ~15% slide for S&P
500

 (Reporting by Lewis Krauskopf)
 ((lewis.krauskopf@thomsonreuters.com; 646-223-6082; Reuters
Messaging: lewis.krauskopf.thomsonreuters.com@reuters.net,
Twitter: @LKrauskopf))