Samsung Electronics' release of preliminary second-quarter results showing a near-19-fold jump in operating profit paradoxically triggered a broad selloff in semiconductor stocks on Tuesday, as investors in Seoul sold after a 150% year-to-date run and the resulting downdraft swept through US chip names during the New York session. Intel Corp. dropped 9.7%, the Philadelphia Semiconductor Index lost 5.1%, and chip equipment makers posted their steepest single-session losses in recent weeks. Enterprise software moved in the opposite direction; Cloudflare Inc. surged 8.6% as investors rotated out of semiconductor hardware and into platform names. The S&P 500 fell 0.45% and the Nasdaq Composite declined 1.16%.
Today's biggest movers
| Ticker | Close | Day | 1mo | YTD |
|---|---|---|---|---|
| $NET | $268.83 | +8.60% | +7.48% | +37.14% |
| $NOW | $110.73 | +2.59% | -1.53% | -24.90% |
| $META | $615.58 | +2.55% | +3.81% | -5.36% |
| $CRM | $169.52 | +2.34% | -8.69% | -33.16% |
| $PLTR | $134.37 | +1.38% | -0.86% | -19.95% |
| $INTC | $110.39 | -9.66% | +11.31% | +180.32% |
| $LRCX | $326.13 | -6.87% | +7.53% | +76.23% |
| $ARM | $300.43 | -6.77% | -12.39% | +161.86% |
| $AMD | $516.11 | -6.51% | +10.66% | +130.95% |
| $AMAT | $554.50 | -6.46% | +22.40% | +106.23% |
Intel tumbles 9.7% as Samsung sell-off sweeps through chip stocks
Intel Corp. (NASDAQ: INTC) closed at $110.39 on Tuesday, shedding $11.80 per share, as Samsung Electronics' preliminary second-quarter results triggered profit-taking across the global semiconductor complex. Samsung reported second-quarter operating profit of approximately $58 billion, a near-19-fold increase year over year that beat analyst estimates. The result became a sell signal rather than a buy signal: Samsung shares fell up to 10% intraday in Seoul after a 150% run this year, and that pressure moved through export-oriented chip names into the US afternoon session, hitting Intel, Applied Materials, Lam Research, AMD, and ARM in sequence.
Intel had company-specific aggravants beyond the macro contagion. Analysts at FX Leaders noted on Tuesday that INTC is testing the $110 support level, with the delayed 18A process node and persistent foundry division losses reinforcing the pressure. HSBC had earlier raised its price target on Intel to $200, maintaining a Buy rating, but the stock continues to trade well below that mark. Intel is scheduled to report second-quarter results on July 23; management will need to demonstrate that manufacturing improvements are converting into margin progress. The foundry division has required enormous capital investment, and analysts generally expect commercial-scale profitability to remain several years out.
Cloudflare surges 8.6% as investors rotate into enterprise software
Cloudflare Inc. (NYSE: NET) was Tuesday's most decisive winner in the AI sector, closing at $268.83 after gaining 8.6% on volume running well above its 30-day average. The move represents a partial recovery from the stock's 24% decline in May, when the company reported first-quarter revenue growth of 34% year over year alongside a plan to cut approximately 1,100 employees globally. Chief executive Matthew Prince attributed the workforce reduction to agentic artificial intelligence adoption, a rationale that rattled investors at the time but has since been absorbed as a signal of improving cost structure.
Cloudflare next reports on July 30. The company guided 2026 full-year revenue between $2.805 billion and $2.813 billion, modestly above the $2.8 billion consensus, with adjusted earnings per share in the $1.19 to $1.20 range. Analyst price targets remain centered near $232, reflecting confidence in the zero-trust networking and AI gateway product lines even as the workforce resets. Tuesday's session demonstrated a pattern that has recurred throughout 2026: when macro contagion hits semiconductor hardware, platform software names with AI monetization stories become the day's relative safe haven.