Semiconductor Shares Plunge As Lam Flags Supply Constraints Arabian Post
The Philadelphia Semiconductor Index plunged 6.72 per cent on October 22, with all 30 constituent companies declining. The retreat reflected mounting investor concerns about whether chipmakers could sustain ambitious expansion plans amid production constraints, rising investment costs and increasingly demanding earnings expectations.
Lam Research shares tumbled 11.8 per cent to $230.15 after its December-quarter revenue forecast disappointed investors. The California-based company reported record quarterly sales but acknowledged that shortages of components would prevent it from fulfilling some equipment orders within the expected timeframe.
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