Analog Devices and Microchip Technology Shares Plummet on AI-Chip Selloff

Price ActionCommodity Impact 4

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Shares of Analog Devices and Microchip Technology fell sharply as a broader selloff hit semiconductor stocks after a report that South Korea's SK Hynix is slowing its high-bandwidth memory expansion. Analog Devices dropped 7.6% and Microchip Technology fell 7.7% in the afternoon session, part of a rout that saw the Philadelphia Semiconductor Index open down roughly 7% a day after closing at a record high. The selling began in Asia where SK Hynix and Samsung each dropped more than 12%, dragging the KOSPI down about 10% and triggering a 20-minute market-wide circuit breaker, then carried into Europe with ASML down 5% and Infineon, ASM International and STMicroelectronics down 5 to 8%. The underlying report indicated SK Hynix is deliberately slowing its HBM4 ramp to redirect capacity into conventional DRAM, where shortages have pushed operating margins more than 15 points above HBM's, rather than signaling a cooling of AI demand. Memory names took the brunt of the selling, with Micron falling 11%, while logic-heavy Nvidia declined only about 3.6%, and Wedbush framed the drop as a buying opportunity with enterprise demand intact.

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