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Intel and Applied Materials Dive 10%, AMD Craters 8% as Samsung Earnings Trigger Chip Selloff
24/7 Wall St.39d agobearish
Intel and Applied Materials Dive 10%, AMD Craters 8% as Samsung Earnings Trigger Chip Selloff

Shares of Intel (NASDAQ:INTC) are down 10% in Tuesday morning trading to $110, while Advanced Micro Devices (NASDAQ:AMD) stock is off 8% to $508. The moves cap a sharp reversal after both names rallied Monday. The declines are part of a broader chip selloff triggered by Samsung Electronics’ quarterly report. Equipment maker Applied Materials (NASDAQ:AMAT) ... Intel and Applied Materials Dive 10%, AMD Craters 8% as Samsung Earnings Trigger Chip Selloff

Micron, SanDisk, and Western Digital Sink 7% as Samsung Earnings Spark a Memory Selloff
24/7 Wall St.39d agobearish
Micron, SanDisk, and Western Digital Sink 7% as Samsung Earnings Spark a Memory Selloff

Memory and storage stocks are selling off sharply in early trading Tuesday, reversing Monday’s rebound. Micron Technology (NASDAQ:MU) shares are down 7% to $917, SanDisk (NASDAQ:SNDK) stock is off 7% to $1,616, and Western Digital (NASDAQ:WDC) shares are dropping 7% to $537. The selling extends across the group. Seagate Technology (NASDAQ:STX) stock is down 5% ... Micron, SanDisk, and Western Digital Sink 7% as Samsung Earnings Spark a Memory Selloff

💬 Money Quote: Chip Stocks Are Priced for Perfection
The Wall Street Journal39d agoneutral
💬 Money Quote: Chip Stocks Are Priced for Perfection

📣 "Investors are not walking away from the AI story, but they are asking whether a sector priced for perfection can keep delivering perfection into earnings season." —Tickmill Group analyst Patrick Munnelly, on a global chip-stock slide triggered by a robust earnings update from Samsung Electronics.

Value Investing’s Comeback Is Just a Quirk (for Now)
The Wall Street Journal39d agoneutral
Value Investing’s Comeback Is Just a Quirk (for Now)

MARKETS AM NEWSLETTER Blowout results from Korean chip maker Samsung fell flat as investors got cold feet about sky-high prices for memory stocks. Tech stocks look set to open lower on the very day that SpaceX will appear in the most popular vehicle U.

Synopsys to cut chip fab manufacturing control software in shift to AI design, sources say
Reuters39d agoneutral
Synopsys to cut chip fab manufacturing control software in shift to AI design, sources say

U.S. chip design giant Synopsys plans to stop offering a suite of manufacturing process control software used by global semiconductor makers, six sources briefed on the matter said, as it seeks to ‌divert resources to higher-margin offerings such as AI design. Synopsys in April and May informed more than 10 chipmakers including Samsung Electronics, ‌SK Hynix, Kioxia Holdings Corp and Qorvo Inc about the "end of life" move that means Synopsys will not provide future new versions and will only carry out maintenance obligations, two of ​the sources said.

Asia Stocks Drop on Chip Selloff, Nasdaq Futures Down
Bloomberg39d agobearishVIDEO
Asia Stocks Drop on Chip Selloff, Nasdaq Futures Down

Asian equities fell as renewed selling in technology stocks, including Samsung Electronics Co. and SK Hynix Inc., deepened concerns that the AI-driven rally may have run ahead of itself. Futures for the tech-heavy Nasdaq 100 Index retreated 1.1%, suggesting Monday's rebound on Wall Street was losing momentum. European shares were also set for losses. Bloomberg's Avril Hong and Mark Cranfield report.

Bloomberg40d agobullish
Samsung Scores Profit Beat Due to Runaway Demand for AI Memory

(Bloomberg) -- Samsung Electronics Co.’s quarterly profit surged 19-fold, soaring past elevated expectations due to rocketing demand for memory chips needed in AI data centers.Most Read from BloombergGreece Offers Bounty to Catch Ravenous Fish Lured by Warming SeaMicrosoft’s Xbox to Cut 3,200 Jobs, Divest Five Studios in Major OverhaulSaudis Slash Main Oil Price to Rare Discount as Market DivesOil, Gas Tankers Cross Hormuz Via Oman-Side Route After U-TurnsTwo Millennium Trading Pods Made About $

Samsung forecasts record quarterly profit, beating estimates on AI memory demand
Reuters40d agoneutral
Samsung forecasts record quarterly profit, beating estimates on AI memory demand

Samsung Electronics on Tuesday forecast a 19-fold jump in second-quarter operating profit ‌from a year earlier, its third consecutive quarter of record operating ‌profit, as AI-driven demand continued to boost memory chip prices. The world's largest memory chipmaker estimated ​April-June operating profit at 89.4 trillion won ($58.44 billion), beating an LSEG SmartEstimate of 87.3 trillion won, according to a regulatory filing. It reported a profit of 4.7 trillion won a year earlier.

What’s Next for Tech — Heard on the Street Recap
The Wall Street Journal40d agoneutral
What’s Next for Tech — Heard on the Street Recap

SK Hynix lowered its target for its huge U.S. share offering. The South Korean chip-maker now plans on raising $28 billion in a U.S. listing in the coming days. That is slightly less than originally sought, due to a recent share-price decline.