On July 8, Silicon Motion Technology fell 5.03% in pre-market trading, trading at $280.06/share, with turnover of $1.2335 million, extending the prior session's decline.
On the news front, Samsung Electronics reported Q2 operating profit surging 1,810% year-over-year, yet its stock price plunged nearly 10%, triggering a classic sell-the-news reaction. Korean memory giants SK Hynix and Samsung fell over 10% and 9% respectively, with panic spreading across the global storage sector. Meanwhile, Morgan Stanley's chief US equity strategist explicitly recommended underweighting semiconductors, stating that storage and chip stocks still have further room to correct. The Philadelphia Semiconductor Index had already declined 4.2% in the prior week, as markets grew concerned that massive AI infrastructure capital expenditures may struggle to deliver near-term profitability, accelerating profit-taking across the sector.
Within the Semiconductor sector, stocks broadly declined, with Micron Technology down 5.48%, Intel down 4.76%, Broadcom down 2.26%, Advanced Micro Devices down 2.15%, and NVIDIA down 1.83%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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