On Friday, January 24, Texas Instruments (TXN) closed with a steep decline of 7.52%, marking its worst single-day performance since 2020. Similarly, other semiconductor-related companies also witnessed notable falls, including the NVIDIA 2x Leveraged ETF, which dropped 6.22%, Microchip Technology losing 5.34%, Lattice Semiconductor slipping 3.76%, Intel declining 3.43%, ON Semiconductor and NVIDIA each falling over 3.1%, and Arm Holdings decreasing by 2.43%. ETFs associated with the semiconductor sector were not spared, with the Semiconductor Select Sector SPDR ETF and the VanEck Vectors Semiconductor ETF declining by 2.01% and 1.99%, respectively.

Further, ASML Holding ADR fell 1.87%, while MKS Instruments (MKSI) and Qorvo both declined by at least 1.8%. NVIDIA supplier Amphenol also took a hit, falling 1.73%. Micron Technology, Skyworks Solutions, Qualcomm, Taiwan Semiconductor Manufacturing ADR, and technology sector ETFs all recorded losses of no more than 1.57%.

Despite the overall bearish trend, a few outliers defied the market downturn. Broadcom gained 1.84%, Navitas Semiconductor rose 2.99%, and Wolfspeed emerged as the top performer with a remarkable gain of 9.17%.