PHLX Semiconductor Index +3.2% after sinking more than 2% before recovering.
Memory names such as Micron (MU 1121.73, -10.60, -0.94%) faced nearly double-digit losses following reports that Apple (AAPL 280.23, -3.55, -1.25%) is lobbying the Trump administration for clearance to buy memory chips from China’s ChangXin Memory Technologies.
Moving on Applied Materials (AMAT 692.99, +66.15, +10.55%) and other chip-equipment peers are among the top-performing S&P 500 components in response to news of major mid- to long-term investment plans from Samsung and SK Hynix.
Both companies have significant memory exposure, where AI infrastructure spending continues to drive strong demand for HBM and other advanced memory products.
On the flip side Super Micro Computer (SMCI 27.78, -2.86, -9.32%) is sharply lower after Bloomberg reported that the company’s Taiwan office was raided by government authorities as part of the investigation into the smuggling of NVIDIA (NVDA 193.88, +1.35, +0.70%) chips into China.