Chip sector correction is a 'cautious blow' to stocks: Analyst

The chip sector is undergoing a sector-wide correction as concerns grow around slowing demand for the products. Moor Insights and Strategy Founder & CEO Patrick Moorhead to discuss why he believes markets are getting "ahead of [themselves] with some of the doom and gloom."
Moorhead notes "there's still this insatiable need" for semiconductor products, saying consumers "just can't get enough". He notes that often times the products require a pairing accross companies, so the demand is still there. While uncertainty persists around headwinds such as inflation and geopolitical tensions, he says this has forced investors to adopt "a wait and see attitude" in regards to this sector.
When asked if he believes markets are overeacting Moorehead tells Yahoo Finance: "I think this is just a cautious blow."
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