Cisco, Intel, Micron: Value Tech Stocks Better At Weathering Big Tech Sell Off?
Our indicative Theme of Value Tech Stocks includes a diverse set of technology companies with mature businesses that are trading at reasonable valuations. Investor preference for high-growth stocks has meant that these companies have underperformed, with the theme down by about -18% year-to-date, on an equally weighted basis, compared to the NASDAQ which has gained about 21% over the same period. However, the Value Tech Stocks theme has fared better than the broader market over the big technology-led sell-off over the last few days, declining by just about -4% versus a decline over -8% on the NASDAQ. Below, we provide a quick overview of these companies and their relative performance.
Diodes a manufacturer and supplier of discrete, logic, analog, and mixed-signal semiconductor components, has declined by about 18% this year. The stock fell by about -3% over the last 5 trading days.
Cisco, a networking major that sells networking software, and products such as switches and routers, has seen its stock decline by about -15% year-to-date. The stock declined by about -5% over the last 5 trading days.. (Related: Is The Sell-Off In Cisco Stock Justified?)
Intel, one of the largest producers of CPUs for servers has seen its stock drop by about -17% this year, due to delays with its next-generation 7-nm chips. The stock declined -4% over the last 5 trading days.
Micron Technology, a memory manufacturer that sells DRAM and NAND memory has underperformed, with its stock declining by about -16% this year. The stock declined by -1% over the last 5 trading days.
NetApp sells hardware and software for data management. The stock has declined by about 26% this year and fell by about -5% over the last 5 trading days.
Booking Holdings a major online travel agency has seen its stock decline -8% year-to-date due to the Covid-19 led disruption. The stock is down by about -1% over the last 5 trading days.
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