AEM and other Singapore chip stocks tumble after tech rout on Wall Street
Singapore chip stocks including AEM fell after a Wall Street tech sell-off triggered by Intel’s weak sales forecast.
Oct 30, 2026, 04:10 PM
SINGAPORE – Singapore tech and chip companies took a tumble on the stock exchange on Oct 30, after tech giants fell on Wall Street.
Local semiconductor solutions company AEM saw its stock fall as much as 11% in the early trading hours of the day, before moderating to a decline of 7% by the noon trading break.
Newly listed Mi Material, which makes chip packaging materials, slid more than 14%, while semiconductor equipment manufacturer UMS Integration wa s d own by nearly 6%.
PC Partner, a global manufacturer of computer electronics and hardware listed on the Singapore Exchang e, also fell more than 4%.
This follows a sell-off on Wall Street overnight, when Intel’s sales forecast missed analyst estimates.
The chipmaker’s shares plunged 23% after hours on Oct 29 after it warned that it would burn cash in 2026 due to the slowing personal computer market, bottlenecks in manufacturing, and heavy spending on expanding production.
It also faced supply disruptions that limited its ability to fully capitalise on growing demand for data centre chips.
Intel chief executive Tan Lip-Bu reportedly told analysts on a conference call that the company faces near-term challenges, including manufacturing supply shortages, an unprecedented memory crunch, and softness in personal computer demand as a result.
AEM has a longstanding, strategic relationship with Intel as a key supplier of advanced semiconductor test solutions.
Meanwhile,Google’s Alphabet closed more than 12% lower on Oct 29, too, wiping out roughly US$500 billion (S$639 billion) in market value in what reports called its “worst day ever”. This sell-off came after the tech giant’s third-quarter earnings fell short of analysts’ profit expectations.
The ripples were also felt in the Asian region, with South Korea’s Kospi index falling some 5% during morning trading on Oct 30. The index is home to global chip firms like SK Hynix and Samsung Electronics.
Saxo Markets chief investment strategist Charu Chanana said the latest tech earnings confirm that artificial intelligence demand is still booming, but investors are becoming much harder to impress.
“AI demand is not the problem. The challenge is increasingly about the cost of meeting that demand and how much of the growth eventually translates into profits and cash flow,” she said in a research note on Oct 30.
She noted that cloud providers are growing rapidly, semiconductor and memory companies are enjoying exceptional demand, and AI is beginning to generate revenues for software businesses.
“Yet, strong results have not always been rewarded by investors. Higher spending, uncertain future margins and elevated valuations are making markets more selective,” she said.
Chanana added that the issue now is that the cost of supplying AI demand is rising faster than the profit it generates.
“For investors, the distinction between companies capable of financing investment through recurring cash flow and those reliant on external capital is becoming more important.”
Source: The Straits Times https://www.straitstimes.com/business/companies-markets/aem-and-other-singapore-chip-stocks-tumble-after-wall-street-hits-a-tech-rout?ref=latest
