Semiconductor stocks have underperformed the broader market as the outlook for the tech sector has become more uncertain.

IGW

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The exchange traded fund S&P North American Technology-Semiconductors Sector Index Fund (IGW) with top holdings including Texas InstrumentsIntel and Applied Materials, is down 15% since the beginning of May.

Analysts have turned bearish on the semiconductor sector as the demand for personal computers have dropped off.  Last week, a JP Morgananalyst was quoted by CNBC as saying that deals for personal computers are “falling off a cliff.” Also last week, analysts from Barclays and Baird downgraded Intel due to “a sharp deterioration in PC-related order trends”.

Other Semiconductor ETFs include the SPDR S&P Semiconductor ETF (XSD) and the PowerShares Dynamic Semiconductors Portfolio Fund (PSI).

For more investing choices, see the list of Industry ETFs.