Global chip sales fall for third straight quarter

Global chip sales dropped for a third straight quarter and for a sixth straight month year-over-year, casting doubts as to whether the industry will pull off a hoped-for turnaround in the second half of 2019. Worldwide, sales of chips fell 16.8% to $98.2 billion in the second quarter, and 16.8% to $32.7 billion for the month of June, according to the Semiconductor Industry Association late Monday. “At the midpoint of 2019, the global semiconductor market remains in a period of decreased sales, with revenues through June lagging the mid-year totals from last year by nearly 15 percent,” said John Neuffer, SIA president and chief executive, in a statement. On Monday, tech stocks hit their worst losing streak since President Donald Trump was elected and the tech-heavy Nasdaq Composite Index COMP, -3.47% fell 3.5% amid an escalating trade war with China. Year-to-date, the PHLX Semiconductor Index SOX, -4.36% is up 23%, the S&P 500 index SPX, -2.98% is up more than 13%, and the Nasdaq is up more than 16%.

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