Intel is the leader in the semiconductor market. They're No. 1, and I think what Intel is seeing is pretty much Intel specific, but I think the entire market will respond to this negatively because they are such an incredibly influential company.
More Quotes from Ray Rund:
The consumer confidence number dropping gave people a bit of a surprise.Ray Rund
Today is the opening day of the Consumer Electronics Show in Las Vegas, and there's a lot of buzz about new products for home and digital entertainment. They're taking up a larger share of the semiconductor market.
Ray Rund
People are taking this as a signal. In this case, it's kind of pro-growth stock. The Nasdaq has the most growth stocks, and when interest rates stabilize, or go down, people start to think of growth as being worth more.
Ray Rund
Seems like some of the stocks that had really run up have taken a bit of a tumble as of late.
Ray Rund
Semiconductors are an area that people saw as the premier growth area in the past. Anytime there's good news, people assume this is going to resume its growth and they rush back in. There's no fundamental pattern that would explain why they're up so much today.
Ray Rund
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