EU chip stocks fall as Intel forecast, Big Tech results revive AI fears
INTC•INTC•INTC•INTC•European chip stocks fell 3% to 11% in early trading, tracking a selloff in U.S. and Asian technology shares amid renewed concerns about AI spending. Intel shares fell 23% after hours after its revenue forecast missed expectations.
European chipmakers fell in early trade, with ASML, Infineon, STMicroelectronics, ASM International and VAT Group down around 3% to 5%. Technoprobe dropped 6.3%, BE Semiconductor 4.3% and AT&S 11%; Soitec, Aixtron, AMS-Osram, Siltronic, X-FAB and Sivers were down between 1% and 9%.
Intel shares fell 23% after hours on Thursday after the U.S. chipmaker’s revenue forecast missed expectations. Big Tech results have so far “failed to convince investors,” Metzler analyst Veysel Taze said, while AI and cloud businesses remain strong beneath the headline numbers. Taze expects attractive valuations and durable growth to support technology stocks once investors “shift their focus back to fundamentals.”
