US semiconductor shares resumed their decline in premarket trading after Wednesday’s reprieve, with Lam Research down 7.2% and several chipmakers losing between 2.1% and 4.9%. The Philadelphia SE Semiconductor Index had risen 3.3% this week through Wednesday’s close after last week’s sharp sell-off.
Nvidia fell 2.1% and Advanced Micro Devices dropped 4.4%. Marvell, Applied Materials and Intel lost between 4.6% and 4.9%, while Lam Research fell 7.2%.
Lam Research had forecast second-quarter earnings above expectations, but analysts saw supply-chain shortages delaying growth and limiting earnings upgrades. Micron declined 3%, Western Digital fell 3.3% and Sandisk lost 4.1%; Texas Instruments dipped 0.74%, with losses kept in check by strong fourth-quarter revenue.
Chip stocks had attempted to rebound this week following last week’s sharp sell-off prompted by AI concerns. The Philadelphia SE Semiconductor Index gained 3.3% through Wednesday’s close after its steepest drop since March 2025, and recorded its best day in nearly three weeks in the previous session. As of the last close, the index was up more than 62% year to date.
