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Avoid semiconductor stocks, Citi analyst warns

Yahoo Finance Video

Yahoo Finance Live anchors discuss one Citi analysts warning calling on investors to avoid semiconductor stocks.

Video Transcript

- All right, after this week brought more ugly sales warnings from Micron and Nvidia, Citi's chip analyst Chris Danely pretty much says in a new note, the semiconductor space should be totally avoided, says Danely. We believe the short term risk reward on semis is no longer favorable given that positive catalysts are out and more negative catalysts are coming. Danely adds this-- we are closing our positive catalyst watches on NXP semiconductor and ON semiconductor and expect more signs of weakness in September.