Qualcomm Falls 13% as Chip Sector Pulls Back
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- Qualcomm fell 13% on Tuesday, its steepest decline since 2020.
- Intel dropped 8% in the same session.
- On Semiconductor fell more than 6% as Skyworks Solutions also slipped.
- iShares Semiconductor ETF (SOXX) sank 5% amid the sector sell‑off.
- Micron Technology dropped 6% while Sandisk fell 8%, reflecting a broader slump in memory chip stocks.
Why it matters: Investors in the iShares Semiconductor ETF lose about 5% as chip stocks tumble, while memory‑chip makers’ price hikes raise AI development costs, potentially slowing the rollout of next‑gen AI agents.
