Philadelphia Semiconductor Index

Headlines · 2

1. 6h
   US chip stocks post longest selloff since 2006; short sellers up $3.2B

   The Philadelphia Semiconductor Index fell more than 12% over the past seven sessions, handing investors who shorted chip stocks an estimated $3.2 billion in paper gains, according to S3 Partners data cited by Bloomberg. The index declined for an eighth straight session on Oct. 16, on track to match its longest losing streak since 2006, with 20 of its 30 components down more than 10% — Coherent dropped nearly 30%, while Astera Labs, MACOM and Credo Technology each fell over 20%. Worries about higher rates, stretched valuations and the vast scale of AI infrastructure spending pushed the S&P 500 toward a 1.7% weekly loss and the Nasdaq 100 toward a 5% drop; traders shorting AI cloud provider CoreWeave gained more than $1 billion on paper this week, and credit default swap pricing implies a better-than-50% chance of default within five years.

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2. 2d
   AI tech stocks slump as Apple becomes second firm to top $5T market cap

   The three main US indexes fell on Oct. 14 local time: the Nasdaq dropped 1.3%, the S&P 500 about 1% and the Nasdaq 100 1.5%, while the Philadelphia Semiconductor Index plunged 4.3% for its longest six-session losing streak since May 2025, with a cumulative decline of more than 12%. AI tech shares were hit broadly, with CoreWeave down about 15% and Dell down 10%, alongside sharp declines in memory chip and optical communications names. Apple was one of the few tech gainers, closing above a $5 trillion market capitalization for the first time to become the second company after Nvidia to reach that milestone. South Korea's KOSPI fell more than 7% and briefly triggered a circuit breaker, while Japan's Nikkei 225 lost over 4%.

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