Chip Stocks Rebound Premarket Following Week's Sell-Off

Chip stocks are rebounding in premarket trading on Thursday, July 9, 2026, clawing back a chunk of this week's steep selloff. MU, WDC, and INTC each rose more than 3%, AMD added roughly 2%, and NVDA also traded higher before the bell. AVGO gained about 1.3% on top of the broader bounce, while TSM, the foundry that underpins Nvidia's, AMD's, and Broadcom's roadmaps, stayed in focus ahead of its July 16 earnings report.

The rebound follows a rough stretch that began when Samsung Electronics' preliminary second-quarter results, an operating profit of roughly $58 billion, about 19 times higher than a year earlier, triggered a selloff instead of a rally. Samsung shares fell in Seoul as investors treated the beat as confirmation that AI-driven memory pricing had already been priced in, and the profit-taking spread quickly to U.S. suppliers: Intel and Applied Materials each dropped roughly 10% and AMD fell about 8% earlier in the week as scrutiny turned to the sector's stretched valuations, with AMD trading near 200 times earnings.

Sentiment turned on Thursday for a few specific reasons. SK Hynix's own results and a renewed rally in Seoul eased fears that the memory cycle had peaked, China's Changxin Memory Technologies pushed ahead with book-building for a roughly $4.3 billion Shanghai listing that sent the CSI Semiconductor Index up 8.8%, and a report citing The Information said Beijing may let Chinese AI firms including Alibaba and ByteDance buy a capped number of Nvidia's H200 chips, easing export-restriction fears. Broadcom added its own catalyst, a reported multi-year, roughly $30 billion Apple chip-supply agreement. Investors should watch whether the bounce holds once the China chip-import details firm up, and whether upcoming earnings from TSM and its peers validate the AI-capex assumptions that drove this week's volatility in the first place.

Related Stocks

• WDC
• NVDA
• AMD