Semiconductor stocks like Broadcom, Arm Holdings, and Lam Research rallied today due to positive AI news

From Nasdaq: 2024-06-05 14:25:24

Shares of semiconductor stocks like Broadcom, Arm Holdings, and Lam Research were up today due to positive AI news. A softer-than-expected May jobs report fueled hope for lower inflation and potential Federal Reserve interest rate cuts. Taiwan Semiconductor Manufacturing’s investment in EUV technology suggests continued AI demand, benefiting chip companies. The semiconductor sector’s recovery driven by AI could result in a longer-lasting boom if interest rates fall without a recession. Potential investors should consider other top stock picks identified by the Motley Fool Stock Advisor team for higher returns.



Read more at Nasdaq: Why Semiconductor Stocks Broadcom, Arm Holdings, and Lam Research Rallied Today