Tech Weakness Resumes After Samsung Misses Lofty AI Expec…

Tech earnings reports are causing U.S. technology shares to decline, particularly following Samsung Electronics' earnings that fell short of investor expectations despite topping analyst estimates. The Nasdaq 100 dropped 1.6%, and the S&P 500 fell by 0.4%. Samsung's disappointing results have raised concerns about the sustainability of the current AI trade. Other tech companies' performances are also being closely monitored.

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By Natalia Kniazhevich

July 7, 2026 at 7:40 AM EDT

Updated on July 7, 2026 at 12:16 PM EDT

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US technology shares extended declines on Tuesday after earnings from Samsung Electronics Co. failed to satisfy investors, spurring worries over the durability of this year’s red-hot artificial intelligence trade.

The tech-heavy Nasdaq 100 fell 1.6% as of 12:16 p.m. in New York, after dropping as much as 2.4% earlier in the session, while the S&P 500 slipped 0.4%. The decline followed a selloff in Seoul, where Samsung shares tumbled, dragging down South Korea’s memory-chip makers and the Kospi Index after results that topped analyst estimates but fell short of elevated buy-side expectations.

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