New York, March 3, 2026, 15:33 EST — Regular session
Analog Devices dropped close to 4% late Tuesday, hitting $338.69, and dipping as far as $336.15 earlier in the session. The analog chipmaker is feeling the pinch as investors rotate out of risk assets.
Stocks tumbled as energy prices surged, with traders reassessing inflation threats tied to the escalating Middle East crisis. “The market is concerned that the US is getting pulled deeper into this conflict than investors had expected,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder. Reuters
Chip stocks took a beating, with the iShares Semiconductor ETF sliding roughly 4.8%. That drop weighed on big names linked to industrial demand and data-center investment.
The market’s tone soured beyond the majors, with the S&P 500 tracker SPY slipping roughly 0.8% and the Nasdaq 100 tracker QQQ dropping close to 1%. Oil plays flipped higher: U.S. Oil Fund advanced 2.2%. Gold ETF GLD, though, shed nearly 4%.
Fresh remarks from company leaders landed as well. Analog Devices CFO Richard Puccio, speaking at a Morgan Stanley event, pointed to strong demand from industrial and data center customers and called the automatic test equipment unit “continuing to go strong into the current year,” MarketBeat reported. Puccio noted about 90% of Analog’s parts now ship with lead times below 13 weeks. The company, he added, is holding more inventory on its own books, instead of loading up distributor shelves. MarketBeat
Dividends are coming up too. Analog Devices set its quarterly cash payout at $1.10 per share, with payment scheduled for March 17. Shareholders need to be on record by the close of business March 3.
Analog Devices delivered a robust earnings update last month, projecting second-quarter revenue near $3.5 billion—give or take $100 million—which topped Wall Street’s expectations. Stronger demand from industrial customers and data centers, both riding the wave of generative AI infrastructure expansion, fueled the upbeat forecast.
Peers got hit, too. Texas Instruments slipped roughly 3.1%. Microchip Technology dropped 3.9%. Nvidia shed 1.5%. The losses cut across the semiconductor sector.
The risk is pretty clear: higher crude keeps inflation nerves frayed and muddies the outlook for rates—typically a drag on tech names and companies thinking about new spending. Oil prices surged after the Middle East conflict escalated and supply threats mounted, according to Reuters.
Attention shifts to macro numbers for guidance. The February U.S. jobs report lands Friday, March 6 at 8:30 a.m. ET, followed by CPI data out on March 11. Earnings are in focus too, with Broadcom on deck, according to Reuters.
