By TradingView
Publication Date: 2026-06-05 18:08:00
Shares of Intel Corp. and Advanced Micro Devices extended their declines on Friday as a sharp selloff across semiconductor stocks gathered pace, with investors continuing to react to Broadcom’s weaker-than-expected artificial intelligence outlook.
The broad-based retreat came after Broadcom’s fiscal second-quarter earnings report, which beat headline expectations but failed to meet the market’s lofty hopes for AI-related growth.
The disappointment sparked a second consecutive day of losses for chipmakers that have helped drive US equities to record highs in recent months.
INTC shares fell 8% in trading, touching an intraday low of $101.55, trading at $102.48 at the time of writing.
AMD also declined about 8%, adding to pressure across the semiconductor sector.
Broadcom outlook rattles semiconductor sector
The catalyst for the latest selloff was Broadcom’s guidance for third-quarter AI semiconductor revenue of roughly $16 billion, below analyst expectations of approximately $17.2 billion.
