Semiconductor ETFs Retreat as Broadcom Warning Paints a Bleak Outlook
This article was originally published on ETFTrends.com.
Semiconductor sector exchange traded funds were among the worst performers on Friday, with Broadcom (NasdaqGS: AVGO) dragging on the segment after the chipmaker painted a dismal outlook that suggested more troubles ahead for an already ailing industry. The iShares PHLX Semiconductor ETF (NasdaqGM: SOXX) declined 2.6% on Friday. Broadcom stated that orders have been contracting, [...]