Jim Cramer · Broadcom · Apple · Semiconductor · The Information · CNBC Technology
Jim Cramer: Chip stocks are staging a revenge trade for last week’s misguided selling
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Semiconductor stocks are staging a "revenge" trade after last week's sharp sell-off, CNBC's Jim Cramer said on Monday.
Key facts
- Micron fell 5.5%, AMD lost 4.3% and Marvell Technology dropped 9.8% on Thursday
- A basket of chip stocks, the iShares Semiconductor ETF, fell 6.4% on Wednesday and 5.6% on Thursday (the market was closed Friday)
- Cramer's Charitable Trust, the portfolio run by CNBC's Investing Club, owns shares of all three stocks
- With the stock trading for less than 19 times forward earnings, according to FactSet, Cramer argued the selling has become overdone
Summary
A basket of chip stocks, the iShares Semiconductor ETF, fell 6.4% on Wednesday and 5.6% on Thursday (the market was closed Friday). Micron fell 5.5%, AMD lost 4.3% and Marvell Technology dropped 9.8% on Thursday. Cramer's Charitable Trust, the portfolio run by CNBC's Investing Club, owns shares of all three stocks.