Lates News

Intel's earnings missed expectations and its outlook was weak, coupled with Amazon's earnings also falling short, which rekindled market concerns about AI investment trades, sending semiconductor stocks broadly lower. The selloff spread across the entire semiconductor industry, hitting chip equipment makers, foundries, and analog chip suppliers alike. Broadcom fell about 4% at the open of regular trading on Friday, AMD plunged nearly 10%, and Micron Technology dropped 5.5%. Intel's stock fell nearly 30% on Friday, wiping out about $120 billion in market value. Wafer fab equipment makers also saw their shares decline, with Applied Materials down nearly 5% and Lam Research down 5.5%. The sector is sensitive to chipmakers' willingness to spend on capital expenditures, especially when chip companies cut back on memory and logic chip investments, equipment makers are often the first to be hit. Meanwhile, Qualcomm's stock also weakened along with the broader wireless communications and handset industry. The market is worried about weak enterprise hardware demand and bottlenecks in smartphone demand.