---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000815274.md"
description: "Macro uncertainty is what's driving semis equities right now.More than hyperscaler capex forecasts and other earnings releases.The Fed's policy meeting next week could lead to a hawkish surprise, which is resulting in institutional investors playing things cautiously at the moment. Ongoing US/Iran escalations -> rising oil prices -> prolonged inflation -> potential rate hike.- Brent crude up 35% in three weeks- US 10Y yield set for its biggest weekly increase since early May- Fed funds futures traders now price in a 36% chance of a rate hike decision next week by the Fed (up from just 13% last week) So ultimately, the prolonged war is having a negative second-order impact on semis. Which is why all your favourite names - from $Nebius(NBIS.US) to $Sandisk(SNDK.US) to $Applied Optoelectronics(AAOI.US) - are all moving in lockstep regardless of their individual sub-sector or any sort of business fundamentals.Another example is $Intel(INTC.US) erasing all it's post-market gains today after reporting solid earnings yesterday. That would not happen under any sort of clear/stable macro conditions.Business fundamentals for the semis will certainly superceed all macro uncertainty in the long-run."
datetime: "2026-07-24T15:04:45.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000815274.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000815274.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000815274.md)
author: "[Paradi Lab](https://longbridge.com/en/profiles/27651407.md)"
generator: "portal-rs"
---

# Macro uncertainty is what's driving semis equities…


### Related Stocks

- [NBIS.US](https://longbridge.com/en/quote/NBIS.US.md)
- [AAOI.US](https://longbridge.com/en/quote/AAOI.US.md)
- [INTC.US](https://longbridge.com/en/quote/INTC.US.md)
- [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md)
- [04335.HK](https://longbridge.com/en/quote/04335.HK.md)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**