Tariff fallout is slamming chip stocks QCOM, AVGO, and MRVL
Semiconductor stocks are tumbling this week, as Wall Street reacts to President Donald Trump’s new tariff policy. The White House's baseline 10% tariff on all countries -- with even steeper country-specific levies to follow -- is sparking a sharp selloff across the chip sector.
Heavily exposed to Asian supply chains and global export markets, Qualcomm Inc (NASDAQ:QCOM), Broadcom Inc (NASDAQ:AVGO), and Marvell Technology Inc (NASDAQ:MRVL) shares are taking a heavy hit.
Qualcomm stock was last seen 4.1% lower at $133.70, extending its year-over-year deficit to 20.7% and bringing its 2025 losses to 12.4%. The security yesterday closed below the $150 level for the first time since February 2024, and is also on track for its worst weekly performance since January 2022.
Broadcom stock is off 6.7% to trade at $143.70 at last glance — its lowest level since September. Despite scoring a Dec. 16 all-time high of $251.88, AVGO is already down 37.9% this year, dragged lower by a persistent three-month downtrend. The stock is now on track for its sixth weekly loss in the last seven.
Marvell Technology stock is down 11.5% at $49.27, now 55.1% lower year-to-date. MRVL is now trading at its lowest level since November 2023 -- a far cry from its Jan. 23 record high of $127.48. With just three weekly wins so far in 2025, the equity is eyeing its worst week since 2002.