Diamonds and Dogs
Integrated Devices (IDTI) is no dummy. The chip design company is up 10% after agreeing to be acquired by Japan's firm, Renesas Electronics for $6.7 billion. The deal helps Renesas deepen its push into semiconductors for self-driving cars. The downside is the Trump administration hasn't allowed many International acquisitions of US firms and their intellectual property. We'll see.
While one chip stock is up, the rest of them are down. Micron (MU) is down 3% today and down 33% in the last four months. Today an analyst downgraded the stock. Disk-drive maker, Western Digital is down 3% on a downgrade as well. Western Digital is down 50% in the last six months. Intel, Texas Instruments, Broadcom, Seagate and the chip equipment makers are all lower as well.