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The largest chip firms have seen their shares underperform this yr, and that dynamic doesn’t make sense to 1 Cantor Fitzgerald analyst.
Cantor’s C.J. Muse wrote that whereas makers of networking, reminiscence, storage and semiconductor capital gear have witnessed surging inventory performances this yr attributable to tight supply-and-demand imbalances, Nvidia NVDA and Broadcom AVGO shares have largely missed out on the get together, buying and selling within the purple thus far this yr and underperforming the broader PHLX Semiconductor Index SOX.