(Bloomberg) — As the coronavirus prompts talk of an earnings recession for most Asian emerging stocks, there’s an industry that’s holding up: chipmaking.The worldwide lockdowns due to the virus and the ensuing contractions in output have sparked indiscriminate selling across industries, and dismal earnings forecasts for this quarter and beyond — except for the tech industry.Micron Technology Inc. last week reported adjusted earnings that beat Street estimates by 24% and predicted stronger-than-expected revenue, fueling optimism about other chipmakers’ prospects. With most of the population in major economies worldwide working or learning remotely, online and ecommerce services are booming, stoking demand …read more
Source:: Yahoo Finance
