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 +2.48% shares finished up 8% at $500.81, while the PHLX Semiconductor Index /zigman2/quotes/210598361/realtime SOX +1.63% rose 6.1% and the tech-heavy Nasdaq Composite Index gained /zigman2/quotes/210598365/realtime COMP +1.76% 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 +0.33% with a 6.2% gain, Applied Materials Inc. /zigman2/quotes/209393259/composite AMAT +1.43% up 8.1%, Marvell Technology Group Ltd. /zigman2/quotes/200053236/composite MRVL +3.86% up 9.5%, Microchip Technology Inc. /zigman2/quotes/208326291/composite MCHP +2.80% with a 6.4% gain, Skyworks Solutions Inc. /zigman2/quotes/201417573/composite SWKS +2.38% , up 7%, and Teradyne Inc. /zigman2/quotes/208321188/composite TER +0.22% 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 +1.31% finished up 4.7%, Broadcom Inc. /zigman2/quotes/200646538/composite AVGO +2.20% rose 5.3%, Micron Technology Inc. /zigman2/quotes/205710729/composite MU +2.05% gained 5%, Qualcomm Inc. /zigman2/quotes/206679220/composite QCOM +2.13% rose 4.8%, Taiwan Semiconductor Manufacturing Co. /zigman2/quotes/204359850/composite TSM +1.13% gained 2.2%, and Texas Instruments Inc. /zigman2/quotes/202237907/composite TXN -0.54% rose 5.1%.

/zigman2/quotes/200467500/composite

Add to watchlist NVDA

NVIDIA Corp.

US : U.S.: Nasdaq

$ 198.02

+4.79 +2.48%

Volume: 48.95M

Jan. 26, 2023 4:00p

P/E Ratio

84.24

Dividend Yield

0.08%

Market Cap

$475.35 billion

Rev. per Employee

$1.27M

/zigman2/quotes/210598361/realtime

Add to watchlist SOX

PHLX Semiconductor Index

US : Nasdaq

2,966.60

+47.61 +1.63%

Volume: 241,603

Jan. 26, 2023 5:16p

/zigman2/quotes/210598365/realtime

Add to watchlist COMP

NASDAQ Composite Index

US : Nasdaq

11,512.41

+199.06 +1.76%

Volume: 5.80B

Jan. 26, 2023 5:16p

/zigman2/quotes/208144392/composite

Add to watchlist AMD

Advanced Micro Devices Inc.

US : U.S.: Nasdaq

$ 75.16

+0.25 +0.33%

Volume: 49.58M

Jan. 26, 2023 4:15p

P/E Ratio

45.03

Dividend Yield

N/A

Market Cap

$120.78 billion

Rev. per Employee

$1.47M

/zigman2/quotes/209393259/composite

Add to watchlist AMAT

Applied Materials Inc.

US : U.S.: Nasdaq

$ 115.58

+1.63 +1.43%

Volume: 5.81M

Jan. 26, 2023 4:00p

P/E Ratio

15.54

Dividend Yield

0.90%

Market Cap

$96.19 billion

Rev. per Employee

$778,333

/zigman2/quotes/200053236/composite

Add to watchlist MRVL

Marvell Technology Inc.

US : U.S.: Nasdaq

$ 44.39

+1.65 +3.86%

Volume: 10.50M

Jan. 26, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

0.54%

Market Cap

$36.47 billion

Rev. per Employee

$868,491

/zigman2/quotes/208326291/composite

Add to watchlist MCHP

Microchip Technology Inc.

US : U.S.: Nasdaq

$ 78.26

+2.13 +2.80%

Volume: 4.80M

Jan. 26, 2023 4:00p

P/E Ratio

23.87

Dividend Yield

1.68%

Market Cap

$41.87 billion

Rev. per Employee

$363,738

/zigman2/quotes/201417573/composite

Add to watchlist SWKS

Skyworks Solutions Inc.

US : U.S.: Nasdaq

$ 112.02

+2.60 +2.38%

Volume: 1.65M

Jan. 26, 2023 4:00p

P/E Ratio

14.37

Dividend Yield

2.21%

Market Cap

$17.52 billion

Rev. per Employee

$491,973

/zigman2/quotes/208321188/composite

Add to watchlist TER

Teradyne Inc.

US : U.S.: Nasdaq

$ 103.67

+0.23 +0.22%

Volume: 3.94M

Jan. 26, 2023 4:00p

P/E Ratio

24.58

Dividend Yield

0.42%

Market Cap

$16.11 billion

Rev. per Employee

$534,753

/zigman2/quotes/203649727/composite

Add to watchlist INTC

Intel Corp.

US : U.S.: Nasdaq

$ 30.09

+0.39 +1.31%

Volume: 56.09M

Jan. 26, 2023 4:00p

P/E Ratio

9.29

Dividend Yield

4.85%

Market Cap

$122.57 billion

Rev. per Employee

$574,236

/zigman2/quotes/200646538/composite

Add to watchlist AVGO

Broadcom Inc.

US : U.S.: Nasdaq

$ 598.58

+12.90 +2.20%

Volume: 2.45M

Jan. 26, 2023 4:00p

P/E Ratio

22.83

Dividend Yield

3.07%

Market Cap

$244.75 billion

Rev. per Employee

$1.66M

/zigman2/quotes/205710729/composite

Add to watchlist MU

Micron Technology Inc.

US : U.S.: Nasdaq

$ 62.80

+1.26 +2.05%

Volume: 12.22M

Jan. 26, 2023 4:00p

P/E Ratio

11.39

Dividend Yield

0.71%

Market Cap

$67.15 billion

Rev. per Employee

$565,750

/zigman2/quotes/206679220/composite

Add to watchlist QCOM

Qualcomm Inc.

US : U.S.: Nasdaq

$ 133.96

+2.79 +2.13%

Volume: 7.41M

Jan. 26, 2023 4:00p

P/E Ratio

11.78

Dividend Yield

2.24%

Market Cap

$147.04 billion

Rev. per Employee

$866,667

/zigman2/quotes/204359850/composite

Add to watchlist TSM

Taiwan Semiconductor Manufacturing Co. Ltd. ADR

US : U.S.: NYSE

$ 93.45

+1.04 +1.13%

Volume: 15.75M

Jan. 26, 2023 4:00p

P/E Ratio

14.27

Dividend Yield

1.50%

Market Cap

$429.48 billion

Rev. per Employee

$1.17M

/zigman2/quotes/202237907/composite

Add to watchlist TXN

Texas Instruments Inc.

US : U.S.: Nasdaq

$ 174.10

-0.94 -0.54%

Volume: 6.29M

Jan. 26, 2023 4:00p

P/E Ratio

18.51

Dividend Yield

2.85%

Market Cap

$158.86 billion

Rev. per Employee

$646,064