With Chips / semis (SOXX) down 2.8%, this looks like a sector-led move rather than a company-specific surprise.
The semiconductor sector is trading sharply lower, continuing a recent trend of profit-taking after a massive rally. The immediate catalyst appears to be a reversal in South Korean chipmakers like Samsung and SK Hynix, which fell sharply after record gains last week. This move is amplified by broader, ongoing investor concerns about the sustainability and profitability of the massive capital expenditures being poured into AI infrastructure by large tech companies. The PHLX Semiconductor Index is down over 20% from its recent peak, reflecting this growing skepticism.