Intel, AMD, Applied Materials Fall 4% as SK Hynix Rout and Oil Spike Hit Chip Stocks

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Intel, AMD, and Applied Materials Drop 4% as SK Hynix Rout and Oil Spike Hit Chip Stocks

Publication Date: 2026-07-13 14:22:17

Author: David Moadel Date: Mon, July 13, 2026 at 7:22 AM PDT Read Time: 5 min

• INTC: -4.01%
• AMD: -2.11%
• AMAT: -2.74%
• POLA.PVT
• 000660.KS: -15.37%

Quick Read

• Intel, AMD, and Applied Materials shares fell 4% after SK Hynix's profit estimate missed consensus by 8%, triggering a 15% plunge and a brief KOSPI trading halt.
• Lam Research dropped 5% and the SOXX ETF fell 4% as U.S.-Iran fighting over the Strait of Hormuz spiked WTI crude oil to $74, amplifying pressure on chip margins.
• Intel's Q2 2026 earnings, due this month, could reset the memory-versus-AI-compute debate for the sector, with Polymarket pricing a 67% chance of a beat.
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Market Overview

Shares of Intel (NASDAQ: INTC) are down 4% to $104.97 in Monday morning trading. Advanced Micro Devices (NASDAQ: AMD) stock is off 4% to $533.58, and Applied Materials (NASDAQ: AMAT) shares are down 4% to $581. The selling began at the open and leveled out into mid-morning.

The move caps a blistering run for the chip complex:

• Intel stock is up 182% year to date (YTD).
• AMD shares are up 147% YTD.
• Applied Materials shares have gained 126% YTD.

With the NASDAQ 100 down 1.28% on the session, the broader tech tape has weakened alongside semiconductors, amplifying the profit-taking impulse.

Memory Rout and Oil Spike Hit Chip Complex

The immediate trigger came from Asia. South Korean brokerage KIS published a Q2 2026 profit estimate for SK Hynix that landed 8% below consensus, citing slow HBM4 shipments and heavy reliance on high-bandwidth memory. SK Hynix shares fell 15% on the Korean exchange, dragging Samsung and the KOSPI, which slid 9% and triggered a brief trading halt.

The read-through was swift. Applied Materials, which counts SK Hynix as a key HBM and DRAM equipment customer, absorbed the biggest hit in the group. NVIDIA (NASDAQ: NVDA) stock and Broadcom (NASDAQ: AVGO) stock each declined 2% as memory-cycle worries rippled across the AI hardware complex.

Adding to the pressure, renewed U.S.-Iran fighting over the Strait of Hormuz sent crude sharply higher. WTI crude oil is up 3.64% over the past 24 hours to $74.01 a barrel, a concern as rising energy costs pressure semiconductor margins and stoke broader macro risk-off flows.

Sector Proxy and Equipment Names Under Pressure

The iShares Semiconductor ETF (NASDAQ: SOXX) is down 4% to $555.93, mirroring the sector drawdown. The fund is concentrated in the exact names caught in today's selloff, so its beta to memory and AI-hardware sentiment is elevated. It does not use leverage, but concentration risk is meaningful.

Lam Research (NASDAQ: LRCX) stock, another equipment maker with heavy memory exposure, dropped 5% on the session.

Looking Ahead

Intel's Q2 2026 earnings, due this month, could reset the memory-versus-AI-compute debate for the sector. Polymarket is currently pricing a 67% chance of a beat.

This article includes sponsored content.