Stock Market Today: Marvell’s $115 Billion Bet on Lumentum Backfires as Chip Stocks Drag the Nasdaq Lower
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This report is about semiconductors.
Directly affected
- No company is named in this report.
Indirectly affected
- SMH VanEck Semiconductor ETF-16.4% 30d
VanEck Semiconductor ETF: it holds chipmakers. Linked by “chip” (semiconductors) in this story.
- SOXX iShares Semiconductor ETF-20.8% 30d
iShares Semiconductor ETF: it holds chipmakers. Linked by “chip” (semiconductors) in this story.
- ASML ASML Holding N.V-0.1% 17d
ASML Holding N.V (special industry machinery): chip demand, export rules and supply drive chipmakers' shares. Linked by “chip” (semiconductors) in this story.
- NVDA Nvidia-11.7% 30d
Nvidia (semiconductors and related devices): chip demand, export rules and supply drive chipmakers' shares. Linked by “chip” (semiconductors) in this story.
- TSM Taiwan Semiconductor Manufacturing-11.9% 30d
Taiwan Semiconductor Manufacturing (semiconductors and related devices): chip demand, export rules and supply drive chipmakers' shares. Linked by “chip” (semiconductors) in this story.
- AVGO Broadcom-11.6% 30d
Broadcom (semiconductors and related devices): chip demand, export rules and supply drive chipmakers' shares. Linked by “chip” (semiconductors) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| SMH | +9.78% | +10.54% | base | after close | after close | after close | after close |
| SOXX | +12.64% | +13.25% | base | after close | after close | after close | after close |
| ASML | +7.22% | +9.85% | base | after close | after close | after close | after close |
| NVDA | +7.75% | +5.68% | base | after close | after close | after close | after close |
| TSM | +9.59% | +8.27% | base | after close | after close | after close | after close |
| AVGO | +6.21% | +7.02% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Stock Market Today: Marvell’s $115 Billion Bet on Lumentum Backfires as Chip Stocks Drag the Nasdaq Lower ChartMill
Source: ChartMill
Semiconductors
| Company | When | Move | Status |
|---|---|---|---|
| ASML | three days earlier | +9.85% | final price |
| ASML | five days earlier | +7.22% | final price |
| AVGO | three days earlier | +7.02% | final price |
| AVGO | five days earlier | +6.21% | final price |
| NVDA | three days earlier | +5.68% | final price |
| NVDA | five days earlier | +7.75% | final price |
| SMH | three days earlier | +10.54% | final price |
| SMH | five days earlier | +9.78% | final price |
| SOXX | three days earlier | +13.25% | final price |
| SOXX | five days earlier | +12.64% | final price |
| TSM | three days earlier | +8.27% | final price |
| TSM | five days earlier | +9.59% | final price |
Congressional trades in the stocks in this story
- Rep. Kevin Hern sold Asml Holding (ASML) (jointly held), worth $15,001 - $50,000 on 23 Oct 2026. That is 11 days before publication. Filed 28 Oct 2026. View the filing.
- Rep. Michael T. McCaul bought Asml Holding (ASML) (held by a spouse), worth $50,001 - $100,000 on 7 Aug 2026. That is 88 days before publication. Filed 14 Oct 2026. View the filing.
- Rep. Pete Sessions sold Nvidia (NVDA) (held by a spouse), worth $15,001 - $50,000 on 2 Oct 2026. That is 32 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Cleo Fields bought Nvidia (NVDA), worth $1,001 - $15,000 on 1 Oct 2026. That is 33 days before publication. Filed 22 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Nvidia (NVDA) (held by a dependent child), worth $1,001 - $15,000 on 23 Sep 2026. That is 41 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Cleo Fields bought Taiwan Semiconductor Manufacturing (TSM), worth $1,001 - $15,000 on 9 Oct 2026. That is 25 days before publication. Filed 22 Oct 2026. View the filing.
- Rep. Gilbert Cisneros bought Taiwan Semiconductor Manufacturing (TSM), worth $1,001 - $15,000 on 22 Sep 2026. That is 42 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Taiwan Semiconductor Manufacturing (TSM) (held by a spouse), worth $1,001 - $15,000 on 25 Aug 2026. That is 70 days before publication. Filed 14 Oct 2026. View the filing.
- Rep. Rohit Khanna sold Broadcom (AVGO) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 39 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. John J McGuire III sold Broadcom (AVGO) (held by a spouse), worth $1,001 - $15,000 on 24 Sep 2026. That is 40 days before publication. Filed 1 Nov 2026. View the filing.
- Rep. Rohit Khanna sold Broadcom (AVGO) (held by a dependent child), worth $15,001 - $50,000 on 23 Sep 2026. That is 41 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
How solid the semiconductors case looks
12 out of 100
“Stock Market Today: Marvell’s $115 Billion Bet on Lumentum Backfires as Chip Stocks Drag the Nasdaq Lower” scores 12 out of 100. The score uses 1 sources.