AMD, Intel, and Nvidia shares fall 3-5% after South Korea’s KOSPI index drops 10%, rattling semiconductor supply chains.
Shares of AMD, Intel, and Nvidia declined 3-5% Tuesday as a 10% retreat in South Korea’s KOSPI index disrupted supply chains linking U.S. chipmakers to Korean memory suppliers. AMD fell 5% to $523, Intel dropped 5% to $134, and Nvidia slipped 3% to $202, dragging the NASDAQ 100 down 1.4%.
The selloff followed a record high in the KOSPI, which corrected sharply, impacting firms like Samsung and SK Hynix. AMD and Nvidia reported strong year-over-year revenue growth of 38% and 85%, respectively, last quarter, providing fundamental support amid the pullback.
Analysts at Wedbush and Morgan Stanley characterized the decline as profit-taking, calling it a healthy correction rather than a cause for alarm.