Cramer: Chip stocks stage 'revenge' trade after last week’s sell-off; Broadcom extends Apple partnership through 2031
2026-07-06 16:28:51
According to CNBC, semiconductor stocks rebounded Monday after last week’s sharp sell-off, which Jim Cramer described as a “revenge” trade. The iShares Semiconductor ETF fell 6.4% on Wednesday and 5.6% on Thursday, when Micron dropped 5.5%, AMD lost 4.3% and Marvell Technology slid 9.8%; by Monday, Intel, Arm and Broadcom were each up more than 3%. Cramer said Thursday’s selling was largely sparked by a report from The Information that Anthropic is exploring a custom artificial intelligence chip with Samsung Electronics. Cramer also said Broadcom has more room to run after announcing it extended its partnership with Apple through 2031 to develop and supply custom chips, while Nvidia was lagging Monday following an industry research report about delays involving its next-generation Kyber rack-scale server system.
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