AI Hangover Weighs On Chipmaker Shares Even With Solid Results

(Bloomberg) — Signs of recovery in smartphone and computer demand have yet to provide the next tailwind for chip stocks as they languish below the heights of this year’s artificial intelligence (AI) rally.

Earnings reports from Intel Corp. and Samsung Electronics Co. Ltd. were promising, indicating the worst may be over for electronics end-markets. Taiwan Semiconductor Manufacturing Co. Ltd. was similarly positive on demand for traditional chips while also providing further evidence that the boom in cutting-edge AI tech will continue.