US chip stocks fall after Samsung results spark fresh AI jitters

QUALCOMM Incorporated

07/07/2026 15:12

Updates
** U.S. semiconductor shares fall as Samsung Electronics' 005930.KS results spark AI jitters, overshadowing the South Korean memory-chip maker's 19-fold jump in operating profit
** Memory stocks down: Micron MU.O drop 6.9%, while Sandisk SNDK.O, Seagate Technology STX.O and Western Digital WDC.O lose between 5.4% and 7.5%
** "Investors are increasingly showing nervousness at the pace of spending with AI and are viewing the tech space with more caution," said Dan Coatsworth, head of markets at AJ Bell
** Nvidia NVDA.O slips 1.6%, Broadcom AVGO.O down 1.9%, Advanced Micro Devices AMD.O slides 7.2%, Intel INTC.O slumps 8.1% and Qualcomm QCOM.O falls 2% 
** VanEck Semiconductor ETF SMH.O falls 4.2%, iShares Semiconductor ETF SOXX.O declines 5.4% 
** Philadelphia Se Semiconductor index .SOX hits four-week low, down 4.6%


 (Reporting by Joel Jose in Bengaluru)
 ((joeljose@thomsonreuters.com))