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A chip ETF just posted one of its best years on record, and the stock everyone expected to lead it barely showed up. The real story is which names hijacked the rally and why the fund's rulebook deserves more credit than any of its holdings.
Both chipmakers have made investors significantly richer over the past year, and they can sustain their healthy growth rates owing to the improving demand for their chips.
Qualcomm Earnings Loom as Wall Street Braces for AI Reality Check
AI chip and memory leaders MU, INTC and TSM stand out for August as AI demand, growth and targets support upside.
At $196.51, NVIDIA (NVDA) looks set up for roughly 56% upside over the next three years under a conservative scenario. That is a move large enough to justify digging into where it comes from. Revenue compounding does the work, but the multiple takes a meaningful cut along the way. Here is the operational reality the math is built on.
Asian chip stocks sold off today, pushing South Korea’s Kospi index 10% lower and Japan’s Nikkei 4% in the red. That followed a tough session for U.S. chipmakers that looks set to extend to today, with Intel, Micron and others sliding premarket.
↘️ Samsung (KR:005930), SK Hynix (KR:000660, SKHY): Shares in both chipmakers dropped more than 13% as part of a broader selloff amid mounting doubts over the AI boom. Over in the U.S., Micron Technology (MU), Intel (INTC) and other chip stocks are also sliding premarket.
Nvidia is on track to fall for a third straight day.
<body><p>STORY: :: Why are Asian chip stocks tumbling amid new competition from China?</p><p>:: July 28, 2026/Singapore</p><p>:: Gregor Stuart Hunter/Market Correspondent</p><p>"So the market has a new chip champion this week and it's CXMT, which raised $8.6 billion in a listing in Shanghai on Monday and then promptly rallied almost 500%, vaulting it into the ranks of some of the biggest companies on earth. It's now the biggest listed company in mainland China. It's bigger than MasterCard, it's bigger than Intel."</p><p>"So why are Asian chip stocks tumbling amid this new competition from China? It really boils down to the arrival of this new entrant in the market that, first of all, has just raised a load of capital to expand, and second of all if you're an investor and you like the chip theme, you probably own a lot of Asian chip makers to begin with. So if you want to buy CXMT's shares, you're gonna have to make room for something in the portfolio, which probably means dumping Samsung or SK Hynix or TSMC or another name like that. And that's ultimately why the market seems to be having such trouble digesting this new arrival."</p><p>"But for now, they'll have to wait as it's listed in Shanghai, that means most global investors won't have immediate access to the stock."</p><p>:: How does Apple's lobbying fit into this?</p><p>"So Apple has been asking the Trump administration reportedly for a bit of leeway in terms of what memory it can use in its products. Remember that Apple recently had to hike prices across a range of its devices, principally because the cost of memory is getting so high because it's also competing with the AI industry for memory chips. On the other hand, a US company like Micron is quite keen to keep Chinese memory out of US supply chains, so is putting equal amounts of pressure in the opposite direction. The Trump administration is caught in the middle."</p><p>:: Is the AI-driven semiconductor rally sustainable?</p><p>"A lot of investors have been worried about a question that essentially boils down to how much debt is being racked up by the tech sector to fund its build out of AI tools. And more importantly, how is that gonna be paid back?"</p><p>"We'll get some indication from the big tech companies this week as to how that expansion is going. We've got earnings coming up from Meta, Microsoft, Amazon, and Apple, as well as some of TSMC suppliers. And they should give us an indication of how much capital expenditure they expect. How much more money, in short, are they gonna keep putting into AI throughout the next few years?"</p></body>
U.S. chip stocks are struggling as a result of fragile investor sentiment ahead of U.S. hyperscaler earnings this week, UBS's Mark Haefele wrote. Microsoft and Meta report earnings Wednesday, before Apple and Amazon report Thursday.
Investing.com -- U.S. chip stocks extended losses in premarket trading Tuesday, building on Monday’s declines after a broad selloff swept through Asian semiconductor names overnight as investors pulled back from AI-linked stocks amid growing worries about how the industry’s infrastructure buildout is being financed and rising competitive pressure from China.
July 28 (Reuters) - Nasdaq futures fell on Tuesday, mirroring a cautious mood across global markets toward AI chip stocks on concerns about hefty corporate spending and rising Chinese competition,
CXMT stock surged over 5x on its debut in Shanghai.
Intel's revenue growth just reached levels not seen in more than a decade.
SINGAPORE, July 28 (Reuters) - Asian markets fell on Tuesday led by chipmakers on unease about the massive funding demands of the AI boom, while a slide in oil prices did relatively little to lift
Cadence Design Systems (NASDAQ:CDNS) reported second-quarter 2026 results that exceeded its guidance, supported by demand for AI-driven design tools and broad-based growth across its businesses. The company raised its full-year outlook, citing accelerating design activity, record backlog and continu
Wells Fargo sees stronger profitability inside the data centre unit
The tech company recently landed Fortinet as a customer of its foundry service.
Intel said 2026 capital expenditures will rise above $20 billion, with 2027 spending expected to be even higher, as the company invests to address tight capacity and AI-driven demand in its foundry business.
AMD has quietly transformed from a chip underdog into a rack-scale platform, and the hyperscalers placing the biggest bets in AI infrastructure are already voting with their wallets. Here is why one investor keeps loading up even at a triple-digit P/E.
Wall Street has spent years wondering when Intel would turn the corner. For a long stretch, patience wore thin. Now one of the most closely watched chip analysts on Wall Street is sending a clear signal that the turnaround story has legs. His latest note landed just days after Intel (INTC) posted ...