Intel and Applied Materials Dive 10%, AMD Craters 8% as Samsung Earnings Trigger Chip Selloff

Intel and Applied Materials slid sharply while AMD dropped as well after Samsung Electronics’ quarterly results triggered a broad selloff across chip and AI-linked stocks. In Tuesday morning trading, Intel was down 10% to $110 and AMD fell 8% to $508, while Applied Materials led declines, down 10% to $532. The iShares Semiconductor ETF (SOXX) also slipped 6% to $544. The move followed Monday’s rally in both Intel and AMD and appears tied to profit-taking after Samsung reported preliminary Q2 2026 operating profit of about $58 billion, up 19-fold year over year, beating analysts’ estimates. However, Samsung shares fell 7% in Seoul and were down as much as 10% intraday. The concern is whether elevated sales and margins priced into the sector can be sustained, with investors focused on momentum and capacity for AI-driven demand.