On the 19th (local time), Nvidia, the leading AI chip stock, plunged 10% on the New York Stock Exchange, causing major domestic semiconductor stocks to fall in unison. This is interpreted as having a negative impact on stock prices following TSMC's downward revision of its earnings forecast.
As of 9:36 a.m., Samsung Electronics is trading at 76,800 KRW, down 1.03% (800 KRW) from the previous trading day. SK Hynix is at 169,100 KRW, down 2.42% (4,200 KRW).
Nvidia's sharp decline is attributed to expectations that the timing of U.S. interest rate cuts will be delayed, coupled with TSMC's lowered earnings outlook. On the 18th, TSMC revised the growth rate of the global semiconductor market (excluding memory) from "over 10%" to "around 10%." The global foundry (semiconductor contract manufacturing) growth forecast was also lowered from "around 20%" to "mid-to-high teens in the 10% range." Nvidia, which controls 80% of the global AI chip market, entrusts most of its self-designed AI chip manufacturing to TSMC.
As a result, Nvidia closed at $762 (1.05 million KRW), down 10% from the previous close. This is the lowest stock price since February 21 and the largest drop since March 2020.
Other major semiconductor stocks such as AMD (-5.4%), Micron (-4.6%), Intel (-2.4%), and Qualcomm (-2.4%) also saw declines. Consequently, the Philadelphia Semiconductor Index recorded a 4.1% drop.
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