Lol, well that didn’t happen
The new CEO started off with a spring in his step but what has happened.
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IQE fears mobile phone slump will hit sales
UK ‘risks’ losing IQE over delays to semiconductor strategy
Trading update News which the company says is due to ‘temporary’ issues:
I wonder if this has anything to do with the failure of Silcon Valley Bank? There must have been rumours for days or longer.
Apparently it’s reduced demand but anyone in tech sector is likely to feel bearish on the SVB news too.
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I don’t have much in the way of individual tech stocks* but my banks are looking a bit sick this morning.
I have a global ETF where the tech stocks are and I expect that to be looking a bit droopy this afternoon!
That’s good. I’m not tech heavy but it’s interesting that insurers have taken a whack too. Direct line is down over 10% this weeks. The knock on effects of these bumps in the road are incredible!
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I noticed that, too. Aviva, L&G, Investec, Old Mutual, Abrdn and Royal Bank of Canada - all suffering regardless of territory if remotely financial.
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