Qualcomm Inc QCOM shares are trading lower by 3.6% to $139.37 Tuesday afternoon. Shares of semiconductor and chip stocks are trading lower for the session as Treasury yields rise, which has weighed on tech stocks.
The sector may be down in sympathy with ASML, which dropped following the Netherlands' decision to block the export of some lithography systems to China. The sector may also be pulling back after gaining in 2023.
What Happened With ASML?
ASML Holding's stock dropped Tuesday following the Netherlands' decision to impose export restrictions on crucial lithography systems—NXT:2050i and NXT:2100i—which are essential for advanced microprocessor production.
This action aligns with previous U.S. export limits and adheres to a September regulation requiring Dutch semiconductor companies to obtain government approval before exporting specific chip-making equipment...Read More
See Also: 5 Biggest Winners, 5 Biggest Losers From Dow Jones Industrial Average In 2023
According to data from Benzinga Pro, Qualcomm has a 52-week high of $146.89 and a 52-week low of $101.47.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
