RBC’s Janet Mui Calls Semiconductor Stock Pullback a Healthy Consolidation

Janet Mui, head of market analysis at RBC Brewin Dolphin, said the recent pullback in semiconductor stocks looks like a healthy consolidation after a strong rally rather than the start of a broader market reversal, according to Bloomberg. Mui said fundamental demand for semiconductors continues to far outstrip supply, supporting ongoing investor interest. She added that while news events can trigger bouts of market jitters, including developments in the cloud computing sector, underlying fundamentals remain robust. Mui said chip stocks rebounded after the recent US holiday as investors bought dips during consolidation phases.