European chip stocks fall after Micron's downbeat quarterly guidance

VAT AG

19/12/2024 08:21

** Shares of European semiconductors fall, underperforming
an already weak stock market, after U.S.-based Micron
Technology's  MU.O  quarterly forecast signalled sluggish
consumer demand on Wednesday
    ** "Micron news is sentiment negative at least and should
trigger profit taking," a trader says
    ** Shares in Frankfurt-listed Infineon  IFXGn.DE , Siltronic
 WAFGn.DE , Aixtron  AIXGn.DE  drop between 3.6%-4.7% to the
bottom of their respective DAX indices
    ** Elsewhere, ASM International  ASMI.AS , ASML  ASML.AS 
and BE Semiconductors Industries  BESI.AS  fall between 2.5% and
4.5%, STMicroelectronics  STMPA.PA  falls 4%
    ** Swiss chip stocks also slump, with ams-Osram  AMS.S , VAT
Group  VACN.S  down 5.5% and 4.5% respectively
    ** Memory-exposed Swiss radio frequency (RF) and X-ray
technology maker Comet  COTNE.S  also falls after the news, down
5%, with Stifel flagging "clearly a negative X-read for Comet as
it likely delays the cyclical recovery for the company further"

 (Reporting by Linda Pasquini)
 ((linda.pasquini@thomsonreuters.com))