A circuit board on display at Macronix International in Taiwan. Semiconductor stocks came under pressure Friday.ANNABELLE CHIH/GETTY IMAGES
Shares of chip makers are taking a beating Friday following warnings that demand for items like computers and smartphones is slowing, and new U.S. export restrictions announced late-morning.
Advanced Micro Devices was recently down more than 10% in morning trading, making it one of the worst performers in the S&P 500. The PHLX Semiconductor Index fell 5%.
AMD said Thursday that sales for the third quarter would come in about $1 billion below the already subdued forecast it issued in August. "The PC market weakened significantly in the quarter," AMD's CEO said.
In other chip-related news:
- The U.S. on Friday put new export restrictions on advanced semiconductors and chip-manufacturing equipment.
- Intel was down 4.9%, while Nvidia lost 6.4%. U.S.-listed shares of Dutch semiconductor-equipment maker ASML fell 5.4%.
- South Korea's Samsung slipped overseas after warning quarterly operating profit would miss consensus forecasts. A slowdown in consumer spending amid high inflation is hitting Samsung’s memory-chip and smartphone businesses.
- Taiwan's TSMC fell in Taipei. TSMC, a major Apple supplier, reported a 4.5% month-over-month drop in revenue.
Read more about the challenges for memory-chip makers here.
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