Semiconductor stocks are starting the third quarter with their worst two-day selloff in nearly a month. The Philadelphia Stock Exchange Semiconductor Index fell as much as 6% on Thursday, putting it on pace for a decline of 12% over two sessions, the most since June 5. The drop was led by equipment makers, with Teradyne, Entegris, and KLA falling more than 10%, while Lam Research and Applied Materials each dropped about 8%. The selloff comes amid a volatile stretch as investors assess the sustainability of AI spending that has driven soaring earnings in the sector. Despite the recent declines, the chip index remains up 78% in 2026, on track for its best year since 1999.
Applied Materials Inc
Entegris Inc
KLA Corporation
Lam Research Corp
Teradyne Inc
Samsung Electronics Co Ltd