By TradingView
Publication Date: 2026-01-08 16:51:00
U.S. chip stocks slipped on Thursday as investors pulled back after a rapid early-year rally and weighed policy and demand risks.
The Philadelphia Semiconductor Index dropped about 2%, while Nvidia NVDA eased roughly 1.7%, Advanced Micro Devices 
AMD fell about 1.6% and Intel 
INTC dipped near 0.9% in midday trading.
Traders cited classic profit-taking after several semiconductor names produced strong gains into the new year, leaving the group vulnerable to even modest negative headlines.
Market participants also flagged lingering export and geopolitics risks tied to China, with tighter controls and uncertain order patterns complicating demand forecasts for U.S. suppliers and feeding caution among portfolio managers.
In addition, analysts note lofty valuations across many chip leaders, so any hint of slowing momentum prompts short-term selling and rotation into other themes.
The pullback on Jan. 8 looked like a measured pause rather than a structural break, though it underscores how quickly sentiment can shift in a sector that sits at the intersection of growth narratives, policy risk and cyclical demand.
