Chips (MU) (INTC) (BRCM) (TSM) (XLNX) Under Pressure

Citing growing chip inventories, Goldman Sachs (NYSE:GS) says after supply checks it appears the chip sector and companies like Micron (NASDAQ:MU), Taiwan Semiconductor (NYSE:TSM), Xilinx (NASDAQ:XLNX), Broadcom (NASDAQ:BRCM) and Intel (NASDAQ:INTC) are under pressure as chip demand falls.

Goldman noted that Taiwan Semiconductor and China-based Semiconductor Manufacturing International Corp. (SMIC) have seen declining demand since the latter part of February.

The rise in chip inventories seems to be be largely across the industry, according to Goldman, and not company-specific events.

Xilinx (XLNX) was trading at $35.48, falling $0.25, or 0.70 percent. Broadcom (BRCM) was at $33.94, down $0.20, or 0.59 percent. Intel (INTC) was at $22.85, dropping $0.40, or 1.70 percent. Taiwan Semiconductor (TSM) was trading at $13.70, down $0.05, or 0.36 percent. Micron (NASDAQ:MU) was at $10.49, declining $0.38, or 3.50 percent.

Nvidia (NASDAQ:NVDA) and Applied Micro (NASDAQ:AMCC) went against the grain today, as they're both trading in positive territory as of 2:19 PM EDT.