Chip investors have had a terrible year. The irony is that things may need to get worse before they get better.
Micron‘s rough fiscal first-quarter results late Wednesday added more pressure to the group that is facing its worst annual performance since the financial crisis. The PHLX Semiconductor Index slid more than 4% on Thursday and is now down 36% for the year. That follows three barnstorming years, where the index has averaged a market-trouncing gain of 51% annually.
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/tronc/CZCPH7KMGD522UFVYPRULITRAM.jpg)
