Intel's earnings trigger a tech stock sell-off, semiconductor sector falls collectively, INTC plunges 30%.

BlockBeats news, October 30 - Intel's earnings fell short of expectations and its outlook was weak, coupled with Amazon's earnings missing expectations, rekindling market concerns about AI investment trades, and semiconductor stocks broadly declined. The selloff spread across the entire semiconductor industry, hitting chip equipment makers, foundries, and analog chip suppliers. According to data from the BIT stock platform, Broadcom fell about 4% at the open of regular trading on Friday, AMD plunged nearly 10%, and Micron Technology dropped 5.5%. Intel shares plummeted 30% on Friday, potentially marking the largest single-day decline on record, with about $120 billion in market value wiped out. Nvidia fell 3.3%, and its total market capitalization dropped below $5 trillion.

Wafer fab equipment makers also fell, with Applied Materials down nearly 5% and Lam Research down 5.5%. The sector is sensitive to chipmakers' willingness to spend on capital expenditures, especially when chip manufacturers cut investment in memory and logic chips, equipment makers are often the first to be hit. Meanwhile, Qualcomm shares also weakened along with the broader wireless communications and mobile phone industry. The market is worried about weak enterprise hardware demand and bottlenecks in smartphone demand. (Jinshi)