Intel’s 28.33% decline led the named chipmakers in a broad Friday retreat that left the Philadelphia Semiconductor Index more than 7% lower at 11:37 a.m. ET (15:37 UTC).
Qualcomm fell 11.30%, SanDisk lost 11%, ARM declined 10.70% and AMD dropped 9.64%. Broadcom was down 5.36%, Micron Technology 5.01%, Taiwan Semiconductor Manufacturing Co. 5.33%, SK Hynix 7.63% and Nvidia 3.56%. Intel had the largest decline among the named chipmakers, while Nvidia had the smallest.
Suppliers of semiconductor equipment also lost ground. Applied Materials fell 7.04%, Lam Research declined 6.50% and ASML dropped 5.67%; their losses ranged from 5.67% to 7.04%. The semiconductor fund SOXL, which uses 3x leverage, fell more than 24%.
The losses spanned the index, individual chipmakers, equipment suppliers and a leveraged semiconductor fund. The retreat followed a Tuesday advance, when the Philadelphia Semiconductor Index led U.S. benchmarks, rising 1.4% as the S&P 500 and Nasdaq gained and the Dow was little changed.
