What Happened?

A number of stocks fell in the morning session after the 30-year U.S. Treasury yield hit a 19-year high and oil stayed elevated as a window for a U.S.–Iran deal closed without a breakthrough, a CNBC report revealed. 

Deutsche Bank’s Jim Reid wrote in a note (reported by CNBC) that “with little sign of a U.S.–Iran deal, investors priced in a more extended closure of the Strait of Hormuz and a longer stretch of higher oil.” That is a problem for chip stocks twice over: it lifts the discount rate applied to future earnings, and it raises the cost of financing the same data-center buildout those earnings depend on. Carl Weinberg, founder of High Frequency Economics, told CNBC’s “Squawk Box Europe” that AI infrastructure borrowing is competing with governments for the same pool of savings and helping push bond yields higher, a loop that then feeds back into lower chip valuations.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Semiconductor Manufacturing company Amkor (NASDAQ: AMKR) fell 11.8%. Is now the time to buy Amkor? Access our full analysis report here, it’s free.
• Semiconductor Manufacturing company Teradyne (NASDAQ: TER) fell 10.5%. Is now the time to buy Teradyne? Access our full analysis report here, it’s free.
• Semiconductor Manufacturing company Kulicke and Soffa (NASDAQ: KLIC) fell 11.7%. Is now the time to buy Kulicke and Soffa? Access our full analysis report here, it’s free.

Zooming In On Amkor (AMKR)

Amkor’s shares are extremely volatile and have had 61 moves greater than 5% over the last year. But moves this big are rare even for Amkor and indicate this news significantly impacted the market’s perception of the business.

The previous big move we wrote about was about 21 hours ago when the stock gained 4.2% on the news that Bloomberg reported that Anthropic told prospective investors its second-quarter revenue jumped more than 14-fold. 

Anthropic reported preliminary second-quarter revenue of more than $11.5 billion, versus $787 million a year earlier and $4.73 billion in the first quarter according to Bloomberg. The company also  showed positive adjusted operating income for the first time. Bloomberg said the figures could still be revised. Chip stocks are a leveraged bet on whether AI labs can keep paying for GPUs, memory, and storage. If Anthropic could more than double sequential sales, and no longer run an adjusted operating loss, this could be evidence that there is sufficient demand to fund that spend. 

Reuters separately reported, citing two people familiar with the company’s financials, that Anthropic is projecting 2028 revenue of roughly $190 billion to $200 billion. That could explain why memory and NAND names led the rebound during the session: serving that many queries consumes DRAM and storage, not only training chips. 

Chip stocks followed the memory-led rally as Commerce Secretary Howard Lutnick told The Wall Street Journal the Trump administration opposes Apple buying Chinese memory chips. Lutnick said Washington is “not in favor” of Apple using Chinese memory and that he had conveyed that “plainly,” a message that would keep more of the shortage with Micron, Samsung, and SK hynix.

Amkor is up 27.6% since the beginning of the year, but at $54.75 per share, it is still trading 36.5% below its 52-week high of $86.23 from June 2026. Investors who bought $1,000 worth of Amkor’s shares 5 years ago would now be looking at an investment worth $2,231.

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