Nvidia stock leads chip rally as tech shares bounce back

By Wallace Witkowski

Nvidia Corp.’s stock and the broader chip sector logged their best days in nearly a year as beaten-down tech stocks staged a rally Tuesday.

Nvidia /zigman2/quotes/200467500/composite NVDA +0.28% shares finished up 8% at $500.81, while the PHLX Semiconductor Index /zigman2/quotes/210598361/realtime SOX +0.30% rose 6.1% and the tech-heavy Nasdaq Composite Index gained /zigman2/quotes/210598365/realtime COMP -0.09% 3.7%. The last time Nvidia and the SOX index saw a larger one-day gain was April 6, 2020, when both rallied about 10%.

With Tuesday’s gains, the SOX index is still down 4.4% and the Nasdaq is off 0.9% for the month of March, following the Nasdaq’s dip into correction territory on Monday . Over the past 12 months, or since the time that COVID-19-triggered lockdowns became a daily reality in the U.S., the SOX has gained 88% while the Nasdaq has risen 64%.

Read: Worldwide chip shortage expected to last into next year, and that’s good news for semiconductor stocks

Other chip-related stocks that outpaced the SOX index Tuesday included Advanced Micro Devices Inc. /zigman2/quotes/208144392/composite AMD +1.11% with a 6.2% gain, Applied Materials Inc. /zigman2/quotes/209393259/composite AMAT -0.91% up 8.1%, Marvell Technology Group Ltd. /zigman2/quotes/200053236/composite MRVL -0.23% up 9.5%, Microchip Technology Inc. /zigman2/quotes/208326291/composite MCHP +1.54% with a 6.4% gain, Skyworks Solutions Inc. /zigman2/quotes/201417573/composite SWKS +0.57% , up 7%, and Teradyne Inc. /zigman2/quotes/208321188/composite TER -0.27% with an 8.8% gain.

As for chip makers with a market cap of $100 billion or more, Intel Corp. /zigman2/quotes/203649727/composite INTC -1.66% finished up 4.7%, Broadcom Inc. /zigman2/quotes/200646538/composite AVGO +0.91% rose 5.3%, Micron Technology Inc. /zigman2/quotes/205710729/composite MU -0.21% gained 5%, Qualcomm Inc. /zigman2/quotes/206679220/composite QCOM -0.44% rose 4.8%, Taiwan Semiconductor Manufacturing Co. /zigman2/quotes/204359850/composite TSM +0.48% gained 2.2%, and Texas Instruments Inc. /zigman2/quotes/202237907/composite TXN +0.63% rose 5.1%.

/zigman2/quotes/200467500/composite

Add to watchlist NVDA

NVIDIA Corp.

US : U.S.: Nasdaq

$ 572.25

+1.62 +0.28%

Volume: 7.03M

May 11, 2021 4:00p

P/E Ratio

82.82

Dividend Yield

0.11%

Market Cap

$355.15 billion

Rev. per Employee

$878,788

/zigman2/quotes/210598361/realtime

Add to watchlist SOX

PHLX Semiconductor Index

US : Nasdaq

2,976.01

+8.90 +0.30%

Volume: 209,932

May 11, 2021 4:05p

/zigman2/quotes/210598365/realtime

Add to watchlist COMP

NASDAQ Composite Index

US : Nasdaq

13,389.43

-12.43 -0.09%

Volume: 4.15M

May 11, 2021 4:05p

/zigman2/quotes/208144392/composite

Add to watchlist AMD

Advanced Micro Devices Inc.

US : U.S.: Nasdaq

$ 76.83

+0.84 +1.11%

Volume: 50.50M

May 11, 2021 4:00p

P/E Ratio

32.58

Dividend Yield

N/A

Market Cap

$92.33 billion

Rev. per Employee

$774,841

/zigman2/quotes/209393259/composite

Add to watchlist AMAT

Applied Materials Inc.

US : U.S.: Nasdaq

$ 123.55

-1.14 -0.91%

Volume: 15.32M

May 11, 2021 4:00p

P/E Ratio

29.57

Dividend Yield

0.78%

Market Cap

$114.42 billion

Rev. per Employee

$716,667

/zigman2/quotes/200053236/composite

Add to watchlist MRVL

Marvell Technology Inc.

US : U.S.: Nasdaq

$ 44.22

-0.10 -0.23%

Volume: 8.40M

May 11, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

0.54%

Market Cap

$30.12 billion

Rev. per Employee

$555,974

/zigman2/quotes/208326291/composite

Add to watchlist MCHP

Microchip Technology Inc.

US : U.S.: Nasdaq

$ 145.51

+2.20 +1.54%

Volume: 2.23M

May 11, 2021 4:00p

P/E Ratio

111.86

Dividend Yield

1.14%

Market Cap

$38.59 billion

Rev. per Employee

N/A

/zigman2/quotes/201417573/composite

Add to watchlist SWKS

Skyworks Solutions Inc.

US : U.S.: Nasdaq

$ 166.89

+0.94 +0.57%

Volume: 2.52M

May 11, 2021 4:00p

P/E Ratio

23.01

Dividend Yield

1.20%

Market Cap

$27.40 billion

Rev. per Employee

$335,570

/zigman2/quotes/208321188/composite

Add to watchlist TER

Teradyne Inc.

US : U.S.: Nasdaq

$ 121.51

-0.33 -0.27%

Volume: 1.91M

May 11, 2021 4:00p

P/E Ratio

27.59

Dividend Yield

0.33%

Market Cap

$20.26 billion

Rev. per Employee

$567,540

/zigman2/quotes/203649727/composite

Add to watchlist INTC

Intel Corp.

US : U.S.: Nasdaq

$ 55.04

-0.93 -1.66%

Volume: 37.00M

May 11, 2021 4:00p

P/E Ratio

12.38

Dividend Yield

2.52%

Market Cap

$226.01 billion

Rev. per Employee

$704,042

/zigman2/quotes/200646538/composite

Add to watchlist AVGO

Broadcom Inc.

US : U.S.: Nasdaq

$ 440.07

+3.97 +0.91%

Volume: 1.83M

May 11, 2021 4:00p

P/E Ratio

51.06

Dividend Yield

3.28%

Market Cap

$178.06 billion

Rev. per Employee

$1.14M

/zigman2/quotes/205710729/composite

Add to watchlist MU

Micron Technology Inc.

US : U.S.: Nasdaq

$ 80.68

-0.17 -0.21%

Volume: 22.99M

May 11, 2021 4:00p

P/E Ratio

28.56

Dividend Yield

N/A

Market Cap

$90.67 billion

Rev. per Employee

$535,875

/zigman2/quotes/206679220/composite

Add to watchlist QCOM

Qualcomm Inc.

US : U.S.: Nasdaq

$ 128.37

-0.57 -0.44%

Volume: 12.17M

May 11, 2021 4:00p

P/E Ratio

18.38

Dividend Yield

2.12%

Market Cap

$145.44 billion

Rev. per Employee

$573,927

/zigman2/quotes/204359850/composite

Add to watchlist TSM

Taiwan Semiconductor Manufacturing Co. Ltd. ADR

US : U.S.: NYSE

$ 112.85

+0.54 +0.48%

Volume: 9.24M

May 11, 2021 4:00p

P/E Ratio

33.20

Dividend Yield

1.24%

Market Cap

$549.19 billion

Rev. per Employee

$800,328

/zigman2/quotes/202237907/composite

Add to watchlist TXN

Texas Instruments Inc.

US : U.S.: Nasdaq

$ 183.20

+1.15 +0.63%

Volume: 4.82M

May 11, 2021 4:00p

P/E Ratio

27.66

Dividend Yield

2.23%

Market Cap

$168.13 billion

Rev. per Employee

$482,033