Chip Stocks Extend Losses as Qualcomm and AMD Slide

Major semiconductor companies faced renewed selling pressure on Thursday, November 5, 2026, as Qualcomm, Micron Technology, Sandisk, and AMD recorded double-digit percentage declines. The downturn extended losses from the previous session as concerns over regulatory restrictions, production challenges, and weaker financial outlooks weighed on the chip industry. According to Yahoo Finance, the PHLX Semiconductor Index fell 8%, reducing its gains since the beginning of 2026 to approximately 30%.

The decline came despite a broader stock market rally on Wednesday following Democrats' midterm election victory. Semiconductor companies have experienced increased share price volatility since the summer, even as artificial intelligence demand helped drive the sector higher throughout the year. Concerns that stricter regulations could slow data center construction added further pressure to investor sentiment.

Qualcomm led the major declines after issuing a profit forecast that fell short of investor expectations. The company's outlook highlighted the financial pressure created by rising component costs, which are affecting its smartphone processor business.

Arm Holdings also experienced a share price decline following its latest revenue guidance. Although the company's forecast came in slightly above market consensus, investors had anticipated stronger results amid the rapid expansion of artificial intelligence-related demand. Micron Technology shares moved lower after the memory chipmaker suspended plans for a manufacturing facility in Taiwan. Yahoo Finance attributed the decision to labor disputes, adding another concern for investors assessing the company's production plans.

Sandisk recorded a 15% decline, extending its losses after shares dropped 7% during the previous trading session. The consecutive declines placed the memory storage company among the biggest contributors to the semiconductor sector's weakness. Other major international chipmakers also faced selling pressure. South Korean memory manufacturers SK Hynix and Samsung Electronics recorded substantial declines in overseas trading, with SK Hynix shares also moving lower in premarket trading.

In the United States, Intel shares dropped nearly 5%, while AMD plunged 12%. Nvidia also extended its losses from the previous session, reflecting broader weakness among major companies associated with semiconductor manufacturing and artificial intelligence technology. The widespread declines affected companies operating across smartphone processors, memory chips, data center technology, and artificial intelligence hardware. The latest market movement left the semiconductor index with approximately 30% gains for 2026 despite its latest 8% drop.