The tech sector is trading lower today, worse than the broader market. Semiconductors are showing relative weakness in the tech space
with the Philly Semi Index trading 2.5% lower. Among chips in the index, NXPI
(-7.9%) is a notable laggard. Among other major indices, the S&P 500 is trading
2.0% lower, while the NASDAQ is trading 1.8% lower. The QQQ, meanwhile, is
trading 1.6% lower. Among tech bellwethers, ORCL (-2.9%) is under notable
pressure.
In news, SWKS (-3.5%) delivered a notice of breach to AATI (-13.7%).
Among notable analyst upgrades this morning, MU (-0.3%) was upgraded to Neutral
at Goldman, BRCM (-2.4%) was upgraded to Outperform at William Blair, and UBS
upgraded LLTC (-2.4%), ADI (-1.2%), MXIM (-1.0%), and TXN (-1.2%).
In downgrades, AIXG (-2.4%) was downgraded to Neutral at HSBC, EZCH (-4.6%) was
downgraded to Hold at Auriga, POWI (-6.2%) was downgraded to Neutral at Piper
Jaffray, ASIA (-12.4%) was downgraded to Neutral at Susquehanna, LRCX (-5.3%)
was downgraded to Neutral at Goldman, and AMAT (-3.6%) was downgraded to Sell at
Goldman.
There are no notable names in tech set to report results today after the close.






