Chip Stock Rebound Comes Undone After Lam Research Stokes Spending Fears

Dow Jones01:50

Just when it looked like the chip stock rebound had room to run, market sentiment whipsawed into Thursday with major names exposed to AI falling across the board. Spending fears were to blame once again.

Lam Research stock bore the brunt of selling, tumbling near 12% Thursday afternoon.

While the chip manufacturing equipment supplier reported an earnings beat after the close on Wednesday, its guidance for the current quarter was only in line with expectations. Given the market's sensitivity to fears over the sustainability of AI spending -- which trickles down to all parts of the chip supply chain -- good enough is just not good enough.

Chip stocks had previously notched a rebound on Wednesday, but it looked to be coming undone. The widely followed iShares Semiconductor ETF had jumped 2.1% in Wednesday trading but fell 6% Thursday, indicative of deteriorating sentiment.

Intel stock declined 7.1% on Thursday, with AMD stock down 7.6%. Qualcomm stock shed 2.3% and Broadcom stock fell 3.9%. Nvidia stock was down 4%, TSMC stock ended down 1.5% in Asian trading, Applied Materials stock dropped 6.8%, and Texas Instruments stock shed 0.4%.

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N","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"林研究引发支出担忧后芯片股反弹被取消","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/2c343cf839f69136dc945c193ba63175","symbols_score_info":{"LRCU":0.6,"BAI":0.6,"EPAI":0.6,"ABFL":0.6,"TEK":0.6,"LRCX":1.92,"LRCC":0.6,"TDV":0.6,"RDVY":0.6,"IETC":0.6,"RDVI":0.6,"KNOW":0.6,"TINY":0.6,"COWG":0.6,"BOBP":0.6,"QQQG":0.6,"CLSE":0.6,"RULE":0.6},"content_text":"Just when it looked like the chip stock rebound had room to run, market sentiment whipsawed into Thursday with major names exposed to AI falling across the board. Spending fears were to blame once again. \n\n\n     Lam Research stock bore the brunt of selling, tumbling near 12% Thursday afternoon. \n\n\n     While the chip manufacturing equipment supplier reported an earnings beat after the close on Wednesday, its guidance for the current quarter was only in line with expectations. 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