October 30 — Intel's earnings fell short of expectations and its outlook was weak, while Amazon's results also missed estimates, reigniting market concerns over AI-related investment trades and sending semiconductor stocks broadly lower. The decline spread across the entire industry, hitting chip equipment makers, wafer foundries, and analog chip suppliers alike. On Friday, Broadcom opened down about 4%, AMD plunged nearly 10%, and Micron Technology fell 5.5%; Intel dropped nearly 30%, wiping out roughly $120 billion in market value; Nvidia fell 3.3%, with its total market capitalization slipping below $5 trillion. Wafer fabrication equipment manufacturers also declined across the board, with Applied Materials down nearly 5% and Lam Research down 5.5%. The sector is particularly sensitive to chipmakers' capital expenditure plans, and when chip manufacturers scale back investments in memory and logic chips, equipment makers tend to bear the brunt. Qualcomm shares also weakened alongside the broader wireless communications and mobile phone industry. The market is concerned about weak enterprise hardware demand and bottlenecks facing smartphone demand.