technology
AI Chip Stocks Slide After TSMC Earnings and Higher Capex Plans
@ABC reported that shares of artificial intelligence chipmakers fell on July 17, 2026, following TSMC's July 16 earnings report that beat expectations but included higher capital expenditure forecasts. Major indexes and individual semiconductor stocks posted declines.
Jul 17, 5:23 PM·1m read2 sources
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Shares of artificial intelligence chipmakers fell on July 17, 2026, @ABC reported. The moves followed an earnings report issued the previous day by Taiwan Semiconductor Manufacturing Co. that exceeded expectations for profit and revenue while including plans for higher capital expenditure than previously forecast.
TSMC shares closed down more than 3 percent. Nvidia shares declined 2.2 percent. The tech-heavy Nasdaq closed down 1.4 percent, the S&P 500 fell nearly 1 percent, and the Dow Jones Industrial Average dropped 0.7 percent.
Other semiconductor stocks also declined. Intel shares slid 2 percent, Applied Materials shares tumbled 5.5 percent, Corning shares dropped 2.3 percent, Sandisk shares fell nearly 4 percent, and Advanced Micro Devices shares fell more than 1 percent. The SMH, which tracks the 25 largest U.S.
Semiconductor firms, has dropped 9.5 percent compared to a month earlier. Futures markets peg the odds of an interest rate hike in September at about 52 percent, according to the CME Group's FedWatch Tool.
