Semiconductor stocks declined on Tuesday following weakness in Asian and European markets.
Nvidia dipped 1%, while Intel fell 8% and AMD dropped 10%. Memory chipmaker Micron declined 11%, and SanDisk lost 17%. Seagate and Western Digital each experienced approximately 14% declines.
The selling wave was driven by heavy declines in Asia. In South Korea, SK Hynix closed down 14.65%, and Samsung Electronics fell over 13%. Other AI-related companies also saw significant drops, with Samsung SDI down 11.37%, LG Innotek down 16.29%, Seoul Semiconductor down 8.78%, and LG Chem dropping 7.5% at market close.
In Japan, chip stocks also declined. Tokyo Electron decreased by 10.96%, Advantest fell over 10%, and SoftBank Group, with its stake in Arm and AI investments, declined 4.43%. Kioxia, a major Japanese memory manufacturer, plunged over 18%.
Source (CNBC)
