Shares of U.S chipmakers sink after Samsung's comment on the excess inventory. Samsung warned that the low-end DRAM memory chip market may go into oversupply by the year's end.
The Philadelphia Semiconductor Index, SOX, a price-weighted index composed of 18 U.S. semiconductor companies primarily involved in the design, distribution, manufacture, and sale of semiconductors, closed down 4.5 percent.
Here are some of big losers in this sector:
Micron Technology, Inc (Nasday:MU) fell 8.4 percent to $9.35
Advanced Micron Device, Inc (NYSE:AMD) fell 6.8 percent to $9.06
SanDisk Corporation (NASDAQ:SNDK) fell 5.2 percent to $39.84
NVIDIA Corporation (NASDAQ:NVDA) down 5.7 percent to $15.71
Intel Corporation (NASDAQ:INTC) down 2.8 percent to $22.84
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