SWKS
Skyworks Solutions Inc
stock NASDAQ

PRIOR SESSION
SOXX $465.00 \[-5.38%\] | SMH $504.22 \[-4.79%\] (Twelve Data: Jul 29 close)
Semis saw a sharp risk-off reset into the close, with broad de-risking across memory and equipment.

PRE-MARKET (as of \~7:15am ET)
US chip tape is trying to stabilize after yesterday’s drawdown; pre-market screens show strength concentrated in equipment and test. (Investing.com pre-market movers)
Top movers: LRCX +8.46%, TER +4.94%, AMAT +3.82%, AMD +1.97%, NVDA +1.37% (Investing.com pre-market movers)

TOP MOVERS (PRIOR SESSION)
Downside was led by KLA (KLAC -10.80%) as equipment sold off aggressively after a weak tape and elevated valuation sensitivity. (Twelve Data: Jul 29)
Micron (MU -9.94%) and Entegris (ENTG -9.44%) extended the memory/materials unwind, signaling a fast tightening in risk appetite around the AI supply chain. (Twelve Data: Jul 29)
Relative strength was limited; Teradyne (TER -0.39%) and ASML (ASML -2.04%) were “best of a bad group,” but still red. (Twelve Data: Jul 29)

VOLUME WATCH
Skyworks (SWKS) printed \~16.96M shares vs \~6.55M average volume (2.6x), consistent with forced repositioning rather than incremental fundamental information. (Twelve Data: Jul 29)
Teradyne (TER) printed \~9.17M shares vs \~4.04M average volume (2.3x); SOXX volume \~18.01M vs \~11.28M average (1.6x). (Twelve Data: Jul 29)

PRE-MARKET OUTLOOK
Macro is the catalyst stack today: BEA publishes Q2 advance GDP and June Personal Income/Outlays at 8:30am ET. (BEA release schedule)
MarketWatch’s consensus line-up for 8:30am ET: Q2 GDP forecast 1.8% (prev 2.1%), initial claims forecast 200K (prev 187K), and June core PCE 0.2% m/m / 3.3% y/y (prev 0.3% / 3.4%). (MarketWatch economic calendar)

NEWS DRIVING THE TAPE
China lithography narrative remains the key overhang: The Information reported a Chinese company has begun manufacturing immersion DUV tools, with deliveries expected to major Chinese chipmakers; the report drove a sharp ASML selloff earlier this week. (CNBC)
Reuters Breakingviews argues the “China DUV” threat is being over-modeled near-term, citing durability of ASML’s technical advantage and doubts on performance/reliability of China’s machines. (Reuters)

ANALYST WATCH
AI infrastructure cycle is still real, but the market is repricing the financing/ROI debate. When semis break, it is usually valuation compression first, fundamentals second.
Memory remains the highest beta expression. Watch for any forward commentary on DDR5/HBM mix shifts and pricing discipline; tape is signaling investors want proof, not narratives.
Equipment and materials are in the crosshairs on geopolitical substitution headlines. Separate EUV (structural scarcity) from DUV (where local alternatives can still pressure the multiple even if unit economics don’t change overnight).

DISCLAIMER
For informational and educational purposes only. Not financial advice. Past performance does not guarantee future results.

PRIOR SESSION
SOXX $465.00 \[-5.38%\] | SMH $504.22 \[-4.79%\] (Twelve Data: Jul 29 close)
Semis saw a sharp risk-off reset into the close, with broad de-risking across memory and equipment.

PRE-MARKET (as of \~7:15am ET)
US chip tape is trying to stabilize after yesterday’s drawdown; pre-market screens show strength concentrated in equipment and test. (Investing.com pre-market movers)
Top movers: LRCX +8.46%, TER +4.94%, AMAT +3.82%, AMD +1.97%, NVDA +1.37% (Investing.com pre-market movers)

TOP MOVERS (PRIOR SESSION)
Downside was led by KLA (KLAC -10.80%) as equipment sold off aggressively after a weak tape and elevated valuation sensitivity. (Twelve Data: Jul 29)
Micron (MU -9.94%) and Entegris (ENTG -9.44%) extended the memory/materials unwind, signaling a fast tightening in risk appetite around the AI supply chain. (Twelve Data: Jul 29)
Relative strength was limited; Teradyne (TER -0.39%) and ASML (ASML -2.04%) were “best of a bad group,” but still red. (Twelve Data: Jul 29)

VOLUME WATCH
Skyworks (SWKS) printed \~16.96M shares vs \~6.55M average volume (2.6x), consistent with forced repositioning rather than incremental fundamental information. (Twelve Data: Jul 29)
Teradyne (TER) printed \~9.17M shares vs \~4.04M average volume (2.3x); SOXX volume \~18.01M vs \~11.28M average (1.6x). (Twelve Data: Jul 29)

PRE-MARKET OUTLOOK
Macro is the catalyst stack today: BEA publishes Q2 advance GDP and June Personal Income/Outlays at 8:30am ET. (BEA release schedule)
MarketWatch’s consensus line-up for 8:30am ET: Q2 GDP forecast 1.8% (prev 2.1%), initial claims forecast 200K (prev 187K), and June core PCE 0.2% m/m / 3.3% y/y (prev 0.3% / 3.4%). (MarketWatch economic calendar)

NEWS DRIVING THE TAPE
China lithography narrative remains the key overhang: The Information reported a Chinese company has begun manufacturing immersion DUV tools, with deliveries expected to major Chinese chipmakers; the report drove a sharp ASML selloff earlier this week. (CNBC)
Reuters Breakingviews argues the “China DUV” threat is being over-modeled near-term, citing durability of ASML’s technical advantage and doubts on performance/reliability of China’s machines. (Reuters)

ANALYST WATCH
AI infrastructure cycle is still real, but the market is repricing the financing/ROI debate. When semis break, it is usually valuation compression first, fundamentals second.
Memory remains the highest beta expression. Watch for any forward commentary on DDR5/HBM mix shifts and pricing discipline; tape is signaling investors want proof, not narratives.
Equipment and materials are in the crosshairs on geopolitical substitution headlines. Separate EUV (structural scarcity) from DUV (where local alternatives can still pressure the multiple even if unit economics don’t change overnight).

DISCLAIMER
For informational and educational purposes only. Not financial advice. Past performance does not guarantee future results.