Chip stocks struggled Monday in a week that will see some big names in the sector report earnings.
Dow component Intel (NASDAQ:INTC) and rival Advanced Micro Devices (NASDAQ:AMD) are both scheduled to report quarterly results this week. Intel held up fairly well, up 0.5% in midday trading, and AMD was down about 0.6% at 11:50 AM ET (15:50 GMT).
Micron Technology (NASDAQ:MU) was among the biggest losers, falling about 2.4%. NVIDIA (NASDAQ:NVDA) lost around 0.9% and Applied Materials (NASDAQ:AMAT) fell about 1.2%.
Investors could be worried that Intel and AMD will warn about the future impact of tariffs on the semiconductor business.
Elsewhere in the tech sector, Google gained about 1% ahead of its earnings report after the bell today.
Google parent Alphabet (NASDAQ:GOOGL) is expected to post a profit of $9.66 per share for the last quarter on revenue of more than $25 billion.
The likely focus of the report for investors will be the reaction to the EU’s record fine of $5 billion on the company and the trend of increased spending.
