US semiconductor stocks staged a partial recovery on Friday, October 23, as investors returned to chipmakers following a sharp technology-led sell-off on Wall Street. The Nasdaq Composite rose 0.15% to 26,047.95 by 12:35 p.m. GMT-4, recovering from Thursday's close of 26,008.86.
The rebound followed a 2.6% plunge in the technology-heavy index in the previous session, when renewed concerns over artificial intelligence (AI) spending weighed on technology valuations.
Among major chipmakers, Micron Technology led the recovery, gaining 3.47% to $886.22, while SK Hynix's US-listed shares advanced 4.49% to $137.60.
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Advanced Micro Devices (AMD) rose 1.97% to $517.95, Intel gained 2.13% to $87.31, and Broadcom climbed 0.66% to $325.36. Nvidia, however, traded 0.11% lower at $211.98.
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Based on the intraday figures, Micron climbed 3.43% from its opening price of $862.29 to its session high of $891.89. AMD advanced 2.69% from its $510.21 open to a high of $523.92, while Intel gained 2.26% from $85.92 to $87.86.
Broadcom rose 1.93% from $321.50 to $327.70, and SK Hynix advanced 1.40% from $136.61 to $138.52. Nvidia touched $213.85 after opening at $210.99, a rise of 1.36%, before giving back those gains.
The Nasdaq's intraday high of 26,111.62 represented a 0.84% increase from its opening level of 25,893.95. The rebound comes after mounting concerns about the returns on massive AI investments triggered heavy selling in chip and technology shares.
On Thursday, the Philadelphia Semiconductor Index fell 5.6%, while investors questioned whether spending on chips, data centres and computing infrastructure would generate sufficient returns.
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