AI Chip Stocks Plunge as China Risk Spreads

테크주 | Wed Jul 29 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 8 sources

Global semiconductor stocks including Micron, SK Hynix, and ASML fell sharply on China chip self-sufficiency concerns and AI trade profit-taking.

Analysis

[Micron Technology] recorded worst monthly decline in 11 years ^[1]

Fell 8.9% in a single day on Tuesday
Down more than 29% cumulatively in July
Worst monthly performance since June 2015
China chip self-sufficiency concerns spreading

[PHLX Semiconductor Index] entered bear market with Nasdaq-100 correction imminent ^[2]^[4]

Down 24.5% from late June peak
Already entered bear market territory
Nasdaq-100 on the brink of correction territory
Questions expanding over AI infrastructure investment

[SK Hynix] missed market expectations despite record earnings ^[5]

Q2 revenue of 79.32 trillion won
up 257% year-over-year
Operating profit of 60.54 trillion won
up 557% year-over-year
Below LSEG consensus (revenue of 84 trillion won)
Began mass production shipments of HBM4

[ASML] shares dropped on reports of China DUV equipment mass production ^[7]

Down 1.8% on Tuesday but up 123% year-to-date
Reports that China is mass-producing immersion DUV equipment
Likely limited to low-end chips
Securing yield and scale expansion are key

[Kospi-Nasdaq Correlation] deepened US-Korea tech stock synchronization on AI hardware demand ^[8]

60-day correlation coefficient of 0.50
highest since 2021
Samsung and SK Hynix account for more than half of Kospi
Data center demand exceeds half of global DRAM
Kospi fell 8% and SK Hynix 15% in sync on July 13

[Wall Street Capital Rotation] triggered AI infrastructure profit-taking and hedge fund collateral pressure ^[6]^[3]

Micron
Western Digital
Seagate
and Sandisk plunged
Western Digital down 40% from June peak
Capital rotating into ServiceNow
Salesforce
Costco
and Walmart
Additional collateral demands on hedge funds emerging

Sources