New York, March 3, 2026, 15:33 EST — Regular session
Analog Devices shares fell nearly 4% in late afternoon trading on Tuesday, sliding to $338.69 after touching a session low of $336.15. The analog chipmaker has been swept up in a wider move out of risk assets.
The selloff hit as energy prices jumped and investors sized up the inflation risk from a widening Middle East conflict. “The market is concerned that the US is getting pulled deeper into this conflict than investors had expected,” Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder, said. 1
Chip stocks were among the hardest hit corners of the tape. The iShares Semiconductor ETF was down about 4.8%, putting pressure on large-cap names tied to industrial and data-center spending.
The broader market was weaker, too, with the S&P 500 tracker SPY down about 0.8% and the Nasdaq 100 tracker QQQ off nearly 1%. Oil-linked bets moved the other way, with the U.S. Oil Fund up about 2.2%, while the gold ETF GLD fell close to 4%.
Investors also had fresh company commentary to digest. At a Morgan Stanley conference, CFO Richard Puccio said Analog Devices is seeing strength in industrial and data center demand and described the automatic test equipment business as “continuing to go strong into the current year,” according to a MarketBeat report. He also said about 90% of the company’s parts now have lead times under 13 weeks and that the firm is keeping more inventory on its own balance sheet rather than pushing it into distributor channels. 2
Dividends are on the calendar as well. The company has said its quarterly cash dividend is $1.10 a share, payable on March 17 to shareholders of record at the close of business on March 3. 3
That comes after a strong earnings update last month, when Analog Devices forecast second-quarter revenue of about $3.5 billion, plus or minus $100 million, above analysts’ estimates, helped by industrial and data-center demand tied to generative AI infrastructure buildouts. 4
The tape did not spare peers. Texas Instruments fell about 3.1%, Microchip Technology slid about 3.9%, and Nvidia was down about 1.5%, underscoring the broad-based pressure across semiconductors.
But the risk scenario is straightforward: if crude stays elevated, it can worsen inflation concerns and complicate rate expectations, a mix that tends to weigh on tech valuations and discretionary corporate spending. Oil prices jumped sharply as the Middle East conflict widened and supply risks grew, Reuters reported. 5
Traders now look to macro data for direction. The U.S. Employment Situation report for February is due Friday, March 6 at 8:30 a.m. ET, with February CPI scheduled for March 11, and the week also brings closely watched earnings including Broadcom, Reuters reported. 6
