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Electronics 2023-09-08: -1 to "WEAK" strength rating (6th strongest of 9 levels), previous move was also DOWN

Brian Degracia

• 2 min read
Electronics 2023-09-08: -1 to "WEAK" strength rating (6th strongest of 9 levels), previous move was also DOWN
Electronics industry for the trading week ended 2023-09-08 - weakening throughout.

Bottom line: Electronics has generally been weakening for the past 6 weeks.
Key stocks: NVDA, TSM, AVGO, AMD, INTC, TXN, AMAT, LRCX, ADI, MU (top 10 by market cap).
Context: The industry has been nearly 2/3 positive YTD, dropping to only 30% positive over the past month.

One week, YTD, and one month reviews below, along with links to past reviews.

1 Week Detail

Overview

8 of 8 sub-industries weakened, with Circuit Boards weakening by 3 levels.

Strongest at STRONG rating (4th strongest of 9 levels):
1. Broad Line Semiconductors
2. Memory Chips

Weakest at WEAKER rating (7th strongest):
1. Specialized Semiconductors

10-Week Industry/Sub-industry Week-by-Week Comparison

Circuit Boards has had a notable 5-level weakening from Strongest 6 weeks ago to Weak today. 

Individual Stock Leaders and Laggards

Current strongest and weakest stocks are shown below. These are of most interest as the downtrodden are prone to large (if perhaps temporary) pops while the strongest have been leading the charge for their sub-industries.

Ratio of Strongest to Weakest stocks is 27:28, vs. 22:20 on 8/24. Previous readings: 8/17 18:17, 7/27 71:8. Big fall from 6 weeks ago.

Historical Context - YTD and 4 week Lookbacks

Standout winners and losers for different lookback periods are shown below including their sub-industries.

YTD Lookback

23 stocks >50% YTD led by NVDA +212% with 7 more stocks >+100%. 12 stocks down more than -25%.

4 Week Lookback

Only 5 stocks >15% over the past 4 weeks with 12 down more than -15%.

Past Reviews

August 24 (2 weeks ago)
August 17 (3 weeks ago)
July 27 (6 weeks ago)
July 13 (8 weeks ago)

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