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Benzinga
Benzinga
Business
Henry Khederian

Why Applied Materials, Lam Research, Micron And Taiwan Semiconductor Manufacturing Shares Are Falling Today

Applied Materials Lam Research Micron Taiwan Semiconductor AMAT Lam Research Corporation LRCX

Shares of companies in the broader technology sector, including Applied Materials, Inc. (NASDAQ:AMAT), Lam Research Corporation (NASDAQ:LRCX), Micron Technology, Inc. (NASDAQ:MU) and Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM), are all trading lower amid overall market weakness following the collapse of Russia-Ukraine ceasefire talks.

Shares of companies in the broader tech sector are also trading lower after the 10-year US Treasury yield is hovering around a two-year high, which has pressured valuations. The 10-year Treasury yield hit an intraday high of 2.021% Thursday afternoon before dipping to around the 2.013% level. When interest rates rise, the value of future cash flows is reduced for growth stocks, which in turn lower the value of the stock.

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