March 9, 2021, 4:15 p.m. EST

Nvidia stock leads chip rally as tech shares bounce back

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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
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
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/zigman2/quotes/210598361/realtime
US : Nasdaq
2,976.01
+8.90 +0.30%
Volume: 209,932
May 11, 2021 4:05p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
13,389.43
-12.43 -0.09%
Volume: 4.15M
May 11, 2021 4:05p
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/zigman2/quotes/208144392/composite
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
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/zigman2/quotes/209393259/composite
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
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/zigman2/quotes/200053236/composite
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
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/zigman2/quotes/208326291/composite
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
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/zigman2/quotes/201417573/composite
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
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/zigman2/quotes/208321188/composite
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
loading...
/zigman2/quotes/203649727/composite
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
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/zigman2/quotes/200646538/composite
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
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/zigman2/quotes/205710729/composite
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
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/zigman2/quotes/206679220/composite
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
loading...
/zigman2/quotes/204359850/composite
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
loading...
/zigman2/quotes/202237907/composite
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
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