PHLX Semiconductor (^SOX): Weak Chip Demand could send the SOX down to retest 2,200.

 


"Micron Cuts Jobs, Spending as Memory Sales Sag on Weak Electronics Demand.", per WSJ. Last week, Korean JoongAng Daily reported that SK Hynix, the world’s second largest memory chipmaker, is projected to lose money in the fourth quarter for the first time in a decade as demand falters for memory chips. Tighten your seat belts as the sector could be heading down to retest the trendline supports between 2,300 and 2,200.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to see the latest update!

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