U.S. chip stocks rebound, tracking China semiconductor rally
Yahoo Finance ·
U.S. chip stocks rebound, tracking China semiconductor rally Vahid Karaahmetovic Thu, July 9, 2026 at 6:17 AM EDT 2 min read 561980.SS 005930.KS 005935.KS Investing.com -- U.S. chip stocks bounced back Thursday, recovering some of the ground lost earlier in the week, as a rally in Chinese semiconductor shares helped steady investor nerves following a selloff following Samsung Electronics' latest results. Micron Technology, Intel, Coherent and Marvell Technology each climbed more than 3% in premarket trading by 05:41 ET (09:41 GMT). Applied Materials rose 3.8%, Advanced Micro Devices gained 2.2%, and Lumentum Holdings added 2.7%. The gains followed a sharp rise in Chinese semiconductor stocks, where enthusiasm is building ahead of a closely watched market debut. The CSI Semiconductor Index closed up 8.8% after Changxin Memory Technologies, a leading Chinese memory chipmaker, said it would begin book-building on July 15 for a Shanghai initial public offering that aims to raise 29.5 billion yuan, or roughly $4.34 billion. Changxin, known as CXMT, is the world's fourth-largest maker of DRAM chips, holding about 7.7% of the global market last year. The rebound comes just two days after a global selloff in chip stocks, sparked by an unexpected drop in Samsung Electronics shares despite the South Korean company posting forecast-beating earnings. Samsung said it expects second-quarter operating profit of 89.4 trillion won, or about $58.44 billion, nearly 19 times higher than a year earlier and greater than its combined profit over the prior three years. That figure exceeded an LSEG SmartEstimate of 87.3 trillion won, while revenue was projected to jump 129% to 171 trillion won. But despite the beat, shares in Samsung fell sharply, with some analysts attributing the reaction to the fact that much of the good news had already been priced in. The selloff also reflected broader questions about the durability of the artificial-intelligence-driven demand that has powered the chip sector's rally over the past year. Memory chip prices have risen sharply over the same period, raising questions among investors about whether demand can keep pace with elevated pricing. U.S. chip stocks rebound, tracking China semiconductor rally These 2 stocks are best positioned to benefit from higher uranium prices: analyst 5 reasons why Jefferies thinks Meta's pullback is a buying opportunity
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