US Stock Market Move | Chip stocks plummet, SanDisk (SNDK.US) falls more than 8%.

On Tuesday, chip stocks fell across the board, with SanDisk (SNDK.US) dropping over 8%, Intel Corporation (INTC.US) and AMD Inc. (AMD.US) both dropping over 7%, Western Digital Corporation (WDC.US) and Micron Technology, Inc. (MU.US) dropping nearly 7%, Seagate Technology Holdings PLC (STX.US) dropping over 5%, ASML Holding NV ADR (ASML.US) dropping over 4%, Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US) dropping over 3%, Qualcomm (QCOM.US), Broadcom Inc. (AVGO.US), and NVIDIA Corporation (NVDA.US) all dropping over 1%. In the Asia-Pacific trading session, South Korean chip giants Samsung Electronics and SK Hynix both fell by more than 6%. Some analysts believe that despite Samsung Electronics' second-quarter operating profit increasing over 18 times year-on-year, the stock price has dropped significantly, reflecting deep-seated doubts in the market about the sustainability of the AI (artificial intelligence)-driven market trend. At the same time, several Wall Street institutions have warned that the current U.S. stock market not only has a price bubble, but also hides an earnings bubble. If earnings growth expectations are adjusted to historical normal rates, the S&P 500 index's valuation would skyrocket to 67.6 times earnings.