Fourteen of the 30 members of the Dow Jones Industrial Average are down year-to-date and 11 of those 14 are down at least 5 percent. Intel Corporation (NASDAQ: INTC), one of the world's largest semiconductor manufacturers, is a member of that dubious group of 11.
Given its heft (the company currently has a market value north of $159 billion), it is not surprising that Intel has been a drag on semiconductor exchange-traded funds. For example, the Market Vectors Semiconductor ETF (NYSE: SMH) and the iShares S&P NA Tec. Semi. Idx. Fd.(ETF) (NASDAQ: SOXX) are off 1.5 percent and 4.3 percent, respectively, this year.
Intel's Latest Earnings Report
Last week, Intel reported revenue of $14.5 billion (marking a 10 percent quarter-over-quarter gain), which topped the $14.2 billion the Street was expecting. Pro forma earnings per share of $0.64 was also higher than the $0.59 per share the Street was looking ...
/www.benzinga.com/trading-ideas/long-ideas/15/10/5924693/slumping-semis-chip-etfs-try-to-get-it-together alt=Slumping Semis: Chip ETFs Try To Get It Together>Full story available on Benzinga.com
More...