Steve Weiss cut Micron Technology Inc (NASDAQ: NASDAQ:MU) from his portfolio on Wednesday, citing concerns that he suggested could be plaguing the entire semiconductor industry.
"The bottom is not in for any of these," Weiss said Wednesday on CNBC's "Fast Money Halftime Report."
He noted that Skyworks (NASDAQ:SWKS) Solutions Inc (NASDAQ: SWKS) reported strong earnings results, but still managed to sell off as analysts are becoming increasingly cautious on the industry as a whole, Weiss said.
"I've got a lot of concern about double ordering that no one will admit to, and I've got concerns about inventory buildup, and I've got concerns also about China and what's going on geopolitically, so I don't want to be in those stocks," he said.
Weiss expects more downside ahead for the entire semiconductor space.
"I think you can have another 10% down in each of these stocks," he emphasized.
Other Opinions: Odyssey Capital's Jason Snipe owns NVIDIA Corp (NASDAQ: NASDAQ:NVDA). Despite some of the concerns floating around, he plans to hold long term.
"I'm not going to do anything here with Nvidia and some of the other chips that I own, but I can understand the points and I think they are well taken," Snipe said.
Virtus Investment Partners' Joe Terranova noted that he also recently sold Micron, but he owns Nvidia and Advanced Micro Devices Inc (NASDAQ: NASDAQ:AMD).
See Also: AMD Reports Record Performances All Around In Beat-And-Raise Q1, Stock Rallies
"I'm holding AMD ... I love the valuation. I love the growth and the market share in computer processors," Terranova said.
"I think it's idiosyncratic. It's all about which single stock you might want to own. I own Nvidia and I own AMD, and I'm going to stay with them."
MU, AMD, NVDA Price Action: At time of publication, Micron was up 0.35% at $71.51 and Nvidia was down 1.8% at $192.60, while AMD was up 3.43% at $94.28.
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