{"id":3321,"date":"2026-07-28T17:11:22","date_gmt":"2026-07-28T17:11:22","guid":{"rendered":"https:\/\/trustedmovinggroups.com\/?p=3321"},"modified":"2026-07-28T17:11:22","modified_gmt":"2026-07-28T17:11:22","slug":"nasdaq-100-slides-into-correction-as-global-chip-and-memory-stocks-sell-off","status":"publish","type":"post","link":"https:\/\/trustedmovinggroups.com\/?p=3321","title":{"rendered":"Nasdaq 100 slides into correction as global chip and memory stocks sell off"},"content":{"rendered":"
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Chip stocks around the world sold off sharply on Tuesday, the latest chapter in the months long jitters surrounding artificial intelligence, memory and chip stocks. <\/p>\n

Read more FIFA proposes a $20 billion spinoff of its commercial and events operations<\/a><\/p>\n

The sell off briefly pushed the Nasdaq-100 index into correction territory, which is a drop of 10% or more from its most recent record high. The influential index tracks the top 100 non-financial companies traded on the Nasdaq exchange.<\/p>\n

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Shares of several chip and memory giants, including Sandisk, Western Digital, Seagate, Micron, and AMD all fell around 10% in early trading. <\/p>\n

Dell Technologies, which produces servers that use chips and memory made by those firms, tumbled 13%. Intel shares slid 7%.<\/p>\n

The selling kicked off overnight in Asia, with stocks traded on markets in Korea, Japan, and Taiwan.<\/p>\n

Both Samsung Electronics and SK Hynix, the primary manufacturers of memory used in AI data centers, plunged more than 15%. Kioxia, another computer storage maker, plummeted 18%. <\/p>\n

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The latest wave of investor unease followed a report on Monday that a Chinese state-backed firm was beginning mass production of domestic chip-making tools. <\/p>\n

However, the report did not name the company. NBC News was not able to verify the report. <\/p>\n

Still, shares of established firms that make chip manufacturing equipment such as ASML, Canon and Nikon fell sharply on the news.<\/p>\n

Tuesday\u2019s moves also come ahead of major earnings reports later in the week from Meta, Amazon, Microsoft and other companies that are spending hundreds of billions of dollars to build AI data centers. Those results could prove pivotal to the trajectory of the market. <\/p>\n

Read more Search for North Carolina woman Liz Waddell is still a missing person case, Grenada police insist<\/a><\/p>\n

Last week, Alphabet shares plunged 7% after the company reported its own results and increased its projected capital expenditures to as much as $205 billion. Most of that will go to building and expanding data centers.<\/p>\n

Evercore technology analyst Mark Mahaney said last week that Alphabet would likely set the stage for Microsoft and Amazon to do the same when they report this week.<\/p>\n

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\u201cThe Capex increase increases the odds of similar behavior from AWS and Azure,\u201d he wrote in a note on Wednesday, referring to capital expenditures, or money companies spend on building physical infrastructure. <\/p>\n

Still, despite investor jitters, \u201ccloud demand appears relentless,\u201d he added.<\/p>\n

On Friday, JPMorgan said that artificial intelligence-related spending by companies is set to approach \u201cabout $870bn by year-end 2026.\u201d That\u2019s 77% higher than the same spending a year ago. <\/p>\n

So-called hyper scalers like Amazon, Meta, Microsoft, and Alphabet represent \u201cabout $750bn of that total,\u201d said JPMorgan head of cross-asset strategy Fabio Bassi.<\/p>\n

Apple, which is not spending hundreds of billions of dollars building its own data centers, rallied about 1% Tuesday to a more than $5 trillion market cap for the first time. Apple has also surpassed Nvidia as the world\u2019s largest public company.<\/p>\n

Nvidia shares were slightly higher mid-morning. <\/p>\n

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Beyond the rout in chip stocks, U.S. markets overall continued to power higher.<\/p>\n

In mid-day trading, the S&P 500 traded higher, while the Russell 2000 was only slightly lower.<\/p>\n

\u201cNothing seems to shake this market,\u201d wrote HSBC\u2019s Max Kettner in a Monday note. <\/p>\n

Part of that has to do with positive earnings results so far this quarter. \u201cEven when excluding the blockbuster numbers from Alphabet, the average earnings surprise is well in excess of the post-COVID-19 pandemic average,\u201d he wrote. <\/p>\n

Read more SpaceX plan to launch 1 million data center satellites could turn atmosphere into a \u2018fire pit,\u2019 scientists say<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Chip stocks around the world sold off sharply, the latest chapter in the months long jitters surrounding artificial intelligence, memory and chip stocks.<\/p>\n","protected":false},"author":1,"featured_media":3320,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-3321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence"],"yoast_head":"\nNasdaq 100 slides into correction as global chip and memory stocks sell off - Trusted Moving Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trustedmovinggroups.com\/?p=3321\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nasdaq 100 slides into correction as global chip and memory stocks sell off - 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