The PHLX Semiconductor Index fell 6.7% on Oct. 22, its worst day since June 23, after Lam Research reported record revenue of $8.22 billion but warned that clean-room space and parts shortages would limit chipmakers' ability to meet demand into 2027. Micron expects memory supply to stay tight in 2027 and 2028, yet its stock is down 29% from its June 25 record close. AMD and Marvell are each about 22% below their Oct. 6 closes. The author says all three are worth considering after the drop, with Micron the first to look at because its price seems to reflect a downturn its own outlook does not show. AMD and Marvell carry higher earnings multiples and need their plans to hold up, and a slowdown in AI spending could still hit all three hard.
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semiconductorsMicronAMDvaluationartificial intelligence
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Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/23/2026 | 211.00 |
| Change that session | -0.57% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 704.39 |
| Change that session | -0.01% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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