European chip stocks pull back as investors take profits after AI rally stalls

Infineon Technologies AG

05/06/2026 09:46

** European chip stocks fell following a continued selloff in tech ignited by Broadcom results reported on Wednesday
** Shares of ASM International ASMI.AS, ASML ASML.AS, BESI BESI.AS and AIXTRON AIXGn.DE were down 3% to 4%, while chipmakers Infineon IFXGn.DE, STMicroelectronics STMPA.PA, Soitec SOIT.PA, Siltronic WAFGn.DE, and ams OSRAM AMS2.VI fell between 3.5% to 8% 
** "Following the massive rally across semiconductor names particularly for AI exposed names, I think we are currently experiencing a period of healthy profit-taking", said Metzler analyst Veysel Taze in an email
** Investor sentiment had begun to flag signs of peak euphoria over the past few weeks, the analyst said
** "The occasional AI fear that has been popping up from time to time and that so far has always proved short lived." said Degroof Petercam analyst Michael Roeg in an email
**  "Near-term technical corrections are in my opening a healthy mechanism to reset market sentiment and align investor expectations", Taze said

 (Reporting by Nathan Vifflin in Gdansk)
 ((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))