Marvell Technology, Western Digital, Photronics, FormFactor, and Amkor Shares Plummet, What You Need To Know

What Happened?

A number of stocks fell in the afternoon session after Intel reported disappointing earnings report and weak forecast for the current quarter. 

Shares of the chipmaker plunged about 12% after it posted a fourth-quarter loss and provided a softer-than-expected outlook. The company's first-quarter revenue projections of $11.7 billion to $12.7 billion fell short of analyst consensus. More concerning for the broader sector, Intel executives flagged industry-wide supply shortages as a significant problem that could persist into 2026, with supply capabilities expected to be at their lowest point in the first quarter. When a market leader like Intel signals such widespread issues, it often creates a ripple effect, raising investor concerns about the health and near-term prospects of the entire semiconductor industry.

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 Marvell Technology (NASDAQ:MRVL) fell 3.4%. Is now the time to buy Marvell Technology? Access our full analysis report here, it’s free.
• Memory Semiconductors company Western Digital (NASDAQ:WDC) fell 2.9%. Is now the time to buy Western Digital? Access our full analysis report here, it’s free.
• Semiconductor Manufacturing company Photronics (NASDAQ:PLAB) fell 4%. Is now the time to buy Photronics? Access our full analysis report here, it’s free.
• Semiconductor Manufacturing company FormFactor (NASDAQ:FORM) fell 9%. Is now the time to buy FormFactor? Access our full analysis report here, it’s free.
• Semiconductor Manufacturing company Amkor (NASDAQ:AMKR) fell 6.2%. Is now the time to buy Amkor? Access our full analysis report here, it’s free.

Zooming In On FormFactor (FORM)

FormFactor’s shares are extremely volatile and have had 35 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 8 days ago when the stock gained 5.3% on the news that a broad rally swept through the semiconductor sector, driven by strong results from an industry leader and growing analyst optimism about AI-related demand. 

The rally in semiconductor stocks was sparked after industry bellwether Taiwan Semiconductor reported a record quarter and provided strong forward guidance, lifting sentiment across the entire chip sector. Analysts also grew more optimistic about the industry's cycle, pointing to stronger spending on chip-making equipment and rising demand related to Artificial Intelligence. This positive outlook was echoed by Stifel, which raised its price target for FormFactor to $65 from $42 on the previous day. The firm identified the company as a key beneficiary of growth in AI, particularly in testing essential components like High-Bandwidth Memory (HBM) wafers.

FormFactor is up 23.9% since the beginning of the year, but at $73.32 per share, it is still trading 12.2% below its 52-week high of $83.46 from January 2026. Investors who bought $1,000 worth of FormFactor’s shares 5 years ago would now be looking at an investment worth $1,511.

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