AI Memory Stocks Lead Chip Selloff
Complete. Here is the key summaryAI memory and semiconductor stocks faced broad declines in U.S. trading on Friday, following steep losses in Asian markets. South Korea's Kospi plunged 5.7%, dragging down SK hynix and Samsung Electronics. The sell-off extended to U.S.-listed names like Micron, Western Digital, and Seagate, with drops ranging from 4% to 7%. Broader AI-related tech stocks, including AMD, Broadcom, Intel, and networking firms, also posted significant losses despite some positive earnings news.
AI memory and semiconductor stocks fell broadly Friday after steep losses in Asian markets spilled into U.S. trading, pressuring some of the year's strongest technology names.
South Korea's Kospi plunged 5.7%, with SK hynix down about 11% and Samsung (SSNLF) Electronics falling nearly 8%. Japan's Nikkei 225 dropped 2.7% as Kioxia, Tokyo Electron and Advantest posted sharp declines.
The weakness quickly spread to U.S.-listed memory stocks. Micron fell around 6%, while Sandisk and SK hynix's ADR each dropped roughly 7%. Western Digital lost about 5%, and Seagate declined nearly 4%.
Other AI-related stocks also moved lower. AMD fell nearly 2%, Broadcom dropped about 2%, and Intel slid almost 4% despite reporting stronger-than-expected results. Networking and optical names, including Coherent, Lumentum and Celestica, suffered even steeper declines.