Intel’s weaker-than-expected results and soft outlook, combined with Amazon’s earnings miss, triggered a fresh sell-off across semiconductor names and revived concerns around the artificial intelligence investment trade. According to MSX.COM data, Broadcom fell about 4% at the open of Friday’s regular session, AMD dropped nearly 10%, and Micron Technology lost 5.5%. Intel slid nearly 30% on Friday, wiping out about $120 billion in market value. The decline also hit chip equipment makers, with Applied Materials down nearly 5% and Lam Research off 5.5%. Qualcomm also moved lower alongside weakness in the wireless communications and smartphone segments. The market is weighing softer corporate hardware demand and signs that smartphone demand may be running into a bottleneck.
Intel’s earnings miss and weak forward outlook, along with Amazon’s results coming in below expectations, reignited concerns over the artificial intelligence investment trade and pushed semiconductor stocks broadly lower, according to Odaily.
Chip stocks fall across the board
The sell-off spread across the semiconductor sector, hitting chip equipment makers, foundries, and analog chip suppliers. Based on MSX.COM data, Broadcom fell about 4% at the open of Friday’s regular trading session, AMD dropped nearly 10%, and Micron Technology declined 5.5%.
Intel shares fell nearly 30% on Friday, erasing about $120 billion in market value. Wafer fabrication equipment makers also moved lower, with Applied Materials down nearly 5% and Lam Research off 5.5%.
Equipment makers and mobile-linked names also weaken
This part of the market is highly sensitive to chipmakers’ capital spending plans. When semiconductor companies cut investment in memory and logic chips, equipment suppliers are often among the first to feel the impact.
Qualcomm also declined as the broader wireless communications and smartphone sectors weakened. The market is concerned about soft corporate hardware demand and a bottleneck in smartphone demand.
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