Chip Sector Turmoil Persists Despite Samsung's Record Earnings

WHO:

Bloomberg - President Trump declared the ceasefire between the US and Iran to be over.

CNBC - SK Hynix plans to raise $28 billion in the second-largest sale after SpaceX.

Yahoo Finance - Samsung Electronics (SSNLF), SK Hynix, Micron (NASDAQ:MU), Western Digital (NASDAQ:WDC), Seagate (NASDAQ:STX), Sandisk (NASDAQ:SNDK), Nvidia (NASDAQ:NVDA), AMD (NASDAQ:AMD), Marvell (NASDAQ:MRVL), Intel (NASDAQ:INTC), Lam Research (NASDAQ:LRCX), Applied Materials (NASDAQ:AMAT), ASML (NASDAQ:ASML), Petra Capital's Albert Yong.

CNBC - Wall Street investors, South Korean electronics company Samsung.

WHAT:

Yahoo Finance - Samsung's stock dropped about 7% in Korea following its earnings report, while SK Hynix fell around 6%.

CNBC - The selloff in semiconductor stocks could stem from a recalibration in expectations after memory's historic run, or investors preparing for SK Hynix's listing this week.

Bloomberg Markets - The Kospi index fell about 5% in response to Samsung's earnings.

Techmeme - SK Hynix is seeking to raise approximately $28 billion in its IPO on the Nasdaq, which would be the second-largest sale after SpaceX.

Bloomberg Markets - Samsung's revenue rose to 171 trillion won from 133.9 trillion won in the prior quarter, driven by strong AI memory demand.

Yahoo Finance - Micron fell nearly 5% premarket, Western Digital lost about 7%, Seagate dropped nearly 6%, and Sandisk declined about 5%.

CNBC - The selloff in semiconductor stocks could stem from a recalibration in expectations after memory's historic run or investors preparing for SK Hynix's listing.

Yahoo Finance - Samsung projected a 19-fold jump in Q2 operating profit, guided at 89.4 trillion won (approximately $58.4 billion), up from 4.7 trillion won a year earlier.

CNBC - Shares of Samsung dropped about 8% following the earnings report, despite the company surpassing both Nvidia and Apple in quarterly profit.

Bloomberg Markets - The Nasdaq 100 Index is up 16% in 2026, while the S&P 500 has climbed 10%, but an index of the Magnificent Seven tech giants has gained just 1.7%.

CNBC - Shares of Samsung dropped about 7% in Korea following the earnings report.

CNBC - The Kospi index fell about 5% in response to Samsung's earnings.

Yahoo Finance - Samsung projected a Q2 operating profit of 89.4 trillion won (approximately $58.4 billion), up from 4.7 trillion won a year earlier.

Yahoo Finance - Samsung's revenue rose to 171 trillion won from 133.9 trillion won in the prior quarter.

CNBC - Samsung's quarterly profit surpassed both Nvidia and Apple, with an expected operating profit increase of 1,800%.

Yahoo Finance - AI memory and chip stocks fell, with Micron down nearly 5%, Western Digital down about 7%, Seagate down nearly 6%, and Sandisk down about 5%.

CNBC - Korea-listed shares of South Korea's Kospi fell about 5% in sympathy with Samsung, and SK Hynix dropped about 6%.

WHERE:

Yahoo Finance - South Korea, specifically mentioning the Kospi index.

CNBC - Nasdaq, where SK Hynix is slated to list shares.

WHEN:

CNBC - SK Hynix is slated to list shares on the Nasdaq this Friday.

CNBC - SK Hynix plans to list shares on the Nasdaq this Friday.

Yahoo Finance - The reported earnings and stock movements occurred on a Tuesday.

WHY:

Bloomberg Markets - Investors are pulling money from chipmakers that powered this year’s rally and are searching for cheaper ways to play the technology boom.

CNBC - The selloff in semiconductor stocks may stem from a recalibration in expectations after memory's historic run, as investors prepare for SK Hynix's listing this week.

CNBC - The selloff in semiconductor stocks could stem from a recalibration in expectations after memory's historic run.

Yahoo Finance - Investors questioned whether the AI infrastructure boom has already priced in too much good news.

CNBC - The selloff could stem from a recalibration in expectations after memory's historic run or investors preparing for SK Hynix's listing.

HOW:

Bloomberg Markets - The AI rotation trade is gathering pace in Asia as investors are pulling money from chipmakers that powered this year’s rally.

Bloomberg - The AI rotation trade is gathering pace in Asia as investors are pulling money from chipmakers that powered this year’s rally.

Bloomberg Markets - The volatility in the chip sector continues despite Samsung's record profits, indicating a disconnect between earnings and investor expectations.

(UPDATED July 9, 2026 00:19 UTC)

Samsung's stock took a hit, dropping about 7% in Korea following its earnings report, while SK Hynix saw a decline of around 6%, contributing to a 5% fall in the Kospi index. The selloff in semiconductor stocks may be linked to a shift in investor expectations after a strong run in memory, or it could be a reaction to SK Hynix's upcoming listing this week. Meanwhile, the AI rotation trade is gaining momentum in Asia as investors are moving their funds away from the chipmakers that fueled this year's rally.

(UPDATED July 8, 2026 21:18 UTC)

President Trump has announced that the ceasefire between the US and Iran is officially over. In the financial world, SK Hynix is aiming to raise around $28 billion in its upcoming IPO on the Nasdaq, which would mark the second-largest sale following SpaceX. Meanwhile, the AI rotation trade is gaining momentum in Asia, with investors shifting their funds away from chipmakers that fueled this year's market rally.

(UPDATED July 8, 2026 13:27 UTC)

Samsung's revenue surged to 171 trillion won, up from 133.9 trillion won in the previous quarter, thanks to a strong demand for AI memory. Meanwhile, semiconductor stocks faced a selloff, with Micron dropping nearly 5%, Western Digital losing about 7%, Seagate declining nearly 6%, and Sandisk falling around 5%. This shift appears to be driven by investors recalibrating their expectations after a historic run in memory prices and looking for more affordable opportunities in the technology sector.

(UPDATED July 8, 2026 12:21 UTC)

Samsung has projected a staggering 19-fold increase in its second-quarter operating profit, estimating it at 89.4 trillion won, or about $58.4 billion, compared to just 4.7 trillion won a year earlier. Despite this impressive performance, shares of Samsung fell approximately 8% following the earnings report, even as the company outperformed both Nvidia and Apple in quarterly profit. The recent selloff in semiconductor stocks may be attributed to a shift in investor expectations ahead of SK Hynix's listing later this week.

(UPDATED July 8, 2026 04:03 UTC)

SK Hynix is planning to raise $28 billion in what would be the second-largest sale after SpaceX, with shares set to list on the Nasdaq this Friday. In the wake of Samsung's earnings report, shares of the tech giant dropped about 7% in Korea, contributing to a roughly 5% decline in the Kospi index. This selloff in semiconductor stocks may be a result of a recalibration in expectations following memory's historic run.

(UPDATED July 8, 2026 02:51 UTC)

Samsung Electronics has reported a staggering projected Q2 operating profit of 89.4 trillion won, which is approximately $58.4 billion, marking a significant increase from just 4.7 trillion won a year earlier. Despite this impressive performance, the stock market saw declines in AI memory and chip stocks, with Micron, Western Digital, Seagate, and Sandisk all experiencing notable drops, while South Korea's Kospi index fell about 5% in response. Looking ahead, SK Hynix is set to list shares on the Nasdaq this Friday, as investors reassess their expectations following a historic run in the memory sector.