Intel and AMD shares slide as chip selloff deepens

Intel and AMD shares fell Wednesday as semiconductor stocks extended losses, driven by concerns over high valuations, rising financing costs, and competition from China, despite strong results from chip equipment maker ASML. Intel dropped about 3.3% and AMD fell 4.64%, while Marvell Technology declined over 6.2%. The iShares Semiconductor ETF (SOXX) fell for a sixth straight session, heading for its longest losing streak since May 2025. ASML raised its forecast and reported strong demand for its equipment, with orders planned through 2030, but analysts note this doesn't guarantee immediate revenue growth for chipmakers. Historical data shows SOXX was higher three months later in 16 of 17 similar streaks.