Chip Stocks Find Buyers After Earnings Shock Shakes Out AI Trade
Key takeaways
- Semiconductor stocks found buyers after earnings shock shook out the AI trade, with some names trading higher despite disappointing forward revenue guidance.
- Global chip sales reached $403.3 billion in the second quarter of 2026, up 35.1% from the first quarter.
- SIA President and CEO John Neuffer said global semiconductor sales are expected to surpass $1.5 trillion in 2026.
- Leveraged semiconductor ETF Direxion Daily Semiconductor Bull 3X Shares (NYSE: SOXL) jumped more than 5%.
What happened
Semiconductor stocks stabilized in Friday's session as investors reassessed the AI trade and digested recent chip earnings.
Why it matters
The sector's recovery was driven by strong quarterly results from memory and storage companies, as well as a shift in rate expectations that boosted growth stocks.
Short-term and longer-term
Short-term. Over the next day or two, watch the next open for Chip Stocks Find, and any same-day update to the year-ahead numbers.
Longer-term. The sector's recovery may be driven by continued strength in AI infrastructure, which could lead to further growth in the sector.