# Chip stocks dropped on Tuesday.

*genai · news · 2026-05-12 · CNBC*

## Key points

- Qualcomm dropped 13%, marking its worst trading session since 2020.
- Tuesday's chip stock decline followed a higher-than-expected consumer inflation reading.
- The recent chip rally extended the AI trade well beyond Nvidia to other semiconductor firms.
- Memory chip makers are raising prices due to ongoing supply shortages amid AI-driven demand.

**Companies:** Qualcomm, Intel, On Semiconductor, Skyworks Solutions
**Countries:** Iran

[Read the full story on CNBC](https://www.cnbc.com/2026/05/12/qualcomm-chip-stocks-record-ai.html)

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