Market continues decline
The market continued its descent recently with the Nasdaq dipping into negative territory. Semiconductors are a bright spot today with the PHLX Semiconductor Index outpacing the major indices, up 0.3%. Most components trade in the green with the biggest gains in Micron (MU 62.89, +1.47, +2.4%), Teradyne (TER 100.38, +1.26, +1.3%), and Intel (INTC 35.92, +0.54, +1.6%). These gains are not enough to lift the information technology sector (UNCH), which is near the bottom of the pack. The sectors' top laggard, Enphase Energy (ENPH 294.77, -8.48, -2.8%), announced today that ClipperCreek, a division of Enphase offering electric vehicle charging solutions, is expanding product deployments amidst rising consumer interest in EVs. Mega cap components, Microsoft (MSFT 288.68, -0.48, -0.2%) and Apple (AAPL 169.29, +0.05, +0.02%), are trailing the broader market.