Chip stocks slide after Lam Research flags supply constraints and Tesla trims spending

Semiconductor shares fell sharply Thursday after Lam Research said near-term supply-chain constraints held back its December-quarter outlook and will push some shipments into March, despite record quarterly revenue of $8.22 billion. Lam shares dropped about 10%, while AMD fell 7.8% and Intel 6.9% in morning trading, with Marvell, Nvidia, Micron, Applied Materials and ASML also lower. Tesla's cut to its 2026 capital spending forecast added to investor worries about the pace of AI infrastructure spending.