They just don't like hardware today and they aren't relenting. Yes, I totally get that Intel (INTC) had some weak lines of business, especially data center, and was outspoken that people should be less bullish about personal computers.
But Skyworks (SWKS) reported a remarkable quarter, yet it's getting hit.
It showed some terrific Internet of Things orders and not just Apple (AAPL) and Samsung, although both are excellent customers in a very big year.
I thought Cypress Semi (CY) gave you a much-better-than-expected quarter and the plethora of customers, including the auto business, was amazingly strong.
Western Digital (WDC) is a total anomaly. You are getting a company that is going to earn $12 a share and it is barely up, even though people were looking for $8 yesterday before the report? (Apple and Western Digital are part of TheStreet's Action Alerts PLUS portfolio.)
I get that there could be a level of skepticism about one or two of these. I understand that someone may say flash memory pricing, which is what's driving the big earnings gains for Western Digital, can't last. But WDC is a very conservative company and it didn't need to forecast that it sees tightness into 2018, which will keep prices higher. It simply didn't need to do that.
So I say, all right, Intel cast a pall. So did Seagate (STX) the other day. But I think these are reflex selloffs and when the smoke clears -- and it will -- there will be a return to these stocks. They are too cheap to ignore.