Chart Of The Day: Chip Stocks Headed Down And To The Right

Most semiconductor stocks have fallen 15–25% over the past month while the S&P 500 remains roughly flat, with Nvidia (NVDA) as the sole exception. The decline spans a broad range of chip names including SK Hynix, Samsung Electronics, Micron, Intel, Sandisk, and Cerebras Systems, with losses reaching up to 25% for Samsung.

Why it matters: The article warns that prolonged weakness in semiconductors could sap market enthusiasm and undermine the broader AI investment narrative, given that chip stocks serve as a barometer for AI spending sentiment.