U.S. Chip Stocks Rise 1–2% in Tuesday Premarket as U.S. Strikes Iran

U.S. chip stocks rebounded in premarket trading on Tuesday, July 14, rising 1–2%, as the U.S. launched strikes on Iran early that morning. Intel and Advanced Micro Devices shares gained over 2%, while Nvidia climbed nearly 1%. Memory stocks surged more sharply: Micron rose over 4% and SanDisk gained 2%. The iShares Semiconductor ETF (SOXX) rose 1.8%.

The U.S. strikes followed President Donald Trump's announcement of a reinstated blockade on Iran in the Strait of Hormuz. Iran responded with attacks on Bahrain, Jordan, and two tankers associated with the United Arab Emirates, killing one mariner and wounding eight others.