Semi, IC Stocks Clobbered; Summit's Srini Sundararajan Provides Some Insight

Semiconductors stocks are tumbling.

The following stocks, among others, are down at least 4 percent on Wednesday afternoon:

• Apple Inc. (NASDAQ: AAPL)
• Linear Technology Corporation (NASDAQ: LLTC)
• Skyworks Solutions Inc (NASDAQ: SWKS)
• Analog Devices, Inc. (NASDAQ: ADI)
• Qorvo Inc (NASDAQ: QRVO)
• Cirrus Logic, Inc. (NASDAQ: CRUS)
• Micron Technology, Inc. (NASDAQ: MU)
• Exar Corporation (NYSE: EXAR)
• M/A-COM Technology Solutions Hldgs Inc (NASDAQ: MTSI)
• Avago Technologies Ltd (NASDAQ: AVGO)

Related Link: Stephens' Harsh Kumar On Semiconductor Weakness: It's A 'Tremendous' Opportunity, Apple Fears Overblown

Other stocks plummeting within the segment are Maxim Integrated Products Inc. (NASDAQ: MXIM), down almost 3 percent, and NXP Semiconductors NV (NASDAQ: NXPI), down 2.6 percent.

Was the tumble related to Linear Tech's bad quarter (reported on Tuesday night), concerns related to iPhone units, or a combination of both elements?

Benzinga spoke about the weakness with Summit's Srini Sundararajan. He believes the aforementioned factors are "difficult to uncouple," but suggested the Linear Tech miss could be weighing on this group more than Apple concerns.

“Thinking further, it is more LLTC than AAPL because LLTC blamed US macro economic and industrials weakness,” he said.

Also on Wednesday, Harsh Kumar, Managing Director and Semiconductor analyst at Stephens & Co, told Benzinga that he sees a “tremendous buying opportunity” in Wednesday’s dive. He recommended taking advantage of the weakness with the Market Vectors Semiconductor ETF (NYSE: SMH), which was recently down 2.45 percent.