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BUZZ-European chip stocks fall as investors pull back from AI assets

Reuters11-21

BUZZ-European chip stocks fall as investors pull back from AI assets

** European semiconductor stocks fell after U.S. jobs data failed to provide clarity on the near-term path for interest rates, prompting investors to dump risky, AI related assets

** The continent's largest firm by market cap ASML ASML.AS fell 3.5%, while computer chip equipment maker peers ASM International ASMI.AS and BESI BESI.AS shed 3.7% and 4%, respectively

** Chipmakers STMicroelectronics STMPA.PA and Infineon IFXGn.DE slid 1.1% and 2.3%, respectively

** "The AI boom triggered a sharp re-rating of the chip equipment market, but the outlook for these markets did not change over time. With concerns about Intel INTC.O and AI monetisation, valuation are pulling back," Michael Roeg, analyst at Degroof Petercam said

** French wafer supplier Soitec SOIT.PA fell 3.3% after closing down 30% on Wednesday

(Reporting by Nathan Vifflin in Gdansk)

((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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