Singapore Chip Stocks Decline as Alphabet Misses Forecasts
Singapore-listed semiconductor shares, including AEM, experienced significant drops on Friday, 30 October 2026, following a 12.6 per cent plunge in Alphabet stock after its third-quarter revenue fell below expectations.
Singaporean Semiconductor Firms See Steep Falls
Shares of Singapore’s semiconductor companies saw sharp declines on Friday, 30 October 2026, mirroring an overnight downturn on Wall Street. AEM led the losses, falling over 11 per cent to S$7.23 by 9.30 am. Other local chip-related firms also registered significant drops: UMS Integration decreased over 6 per cent to S$2.04, while Frencken fell 4.7 per cent to S$2.02.
Mi Material, a new entrant specialising in chip packaging materials, traded 9 per cent lower at S$1.63, having previously held its S$1.80 initial public offering (IPO) price for two days due to open market purchases by OCBC.
Regional Markets Track US Tech Rout
The sell-off extended across Asia, with South Korea’s Kospi index dropping almost 5 per cent in mid-morning trading. This regional decline tracked the earlier slide on Wall Street, where technology giants faced investor exits. Alphabet, Google’s parent company, closed 12.6 per cent lower at US$283.82 on Thursday, marking its largest single-day loss since its 2004 listing.
This substantial drop was triggered by Alphabet’s third-quarter revenue of US$127.6 billion, which did not meet market expectations.
Broader US Tech Earnings Disappoint
The broader US technology market also experienced a second consecutive session of declines as investors shifted away from artificial intelligence (AI)-linked stocks. Amazon.com’s shares slumped 7.3 per cent after the company reported increased spending alongside slower growth in its online retail division.
Intel also saw its stock plunge following a disappointing sales forecast for the fourth quarter, projecting US$15 billion to US$16 billion against an analyst consensus of US$17 billion and some estimates exceeding US$18 billion. Intel also noted a deadly explosion at its Israel factory would erase roughly US$600 million in revenue over two quarters.
The current market sentiment reflects a broader re-evaluation of technology valuations, particularly in the AI sector, which directly impacts Asian semiconductor manufacturers. Singapore Exchange-listed chip shares have been on a downward trend for the past month; AEM has seen a 24.8 per cent share price drop month-to-date, UMS 24 per cent, and Frencken 22.5 per cent.
Investors will be watching for further earnings reports from major global tech firms to gauge the extent of this rotation and its continued effect on demand for chips produced by Asian suppliers like SK Hynix and Samsung Electronics.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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