Semiconductor Shares Rise. Wolfspeed up 21%; Intel up 5%; SOXL up 4%; AMD, Micron up 2%
Semiconductor shares rose in Tuesday trading. Wolfspeed up 21%; Intel rose 5%; SOXL rose 4%; ON Semiconductor up 3%; AMD, Micron rose 2%; Marvell up 1%; Nvidia up 0.3%.
Intel began laying off employees across the company Monday, notifying workers individually about whether they will keep their jobs.
New CEO Lip-Bu Tan told workers in April to expect major layoffs in the coming months as the chipmaker slashes costs and overhauls its organization after years of technical setbacks and falling sales.
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