What Happened?

A number of stocks fell in the afternoon session after surging crude oil prices and a jump in benchmark Treasury yields stoked renewed concerns over inflation and prolonged corporate borrowing costs. Oil prices surged after the U.S. military said it was striking Iranian targets, pressuring bonds as a global rout raised borrowing costs, the Wall Street Journal said. The 10-year Treasury yield climbed to about 4.79%, its highest in roughly 20 months, according to CNBC. That pairing raises the cost of capital for multi-billion-dollar fab builds while higher energy and logistics costs threaten to squeeze margins across global chip supply chains.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Semiconductor Manufacturing company Lam Research (NASDAQ: LRCX) fell 4.3%. Is now the time to buy Lam Research? Access our full analysis report here, it’s free.
• Analog Semiconductors company Monolithic Power Systems (NASDAQ: MPWR) fell 3.1%. Is now the time to buy Monolithic Power Systems? Access our full analysis report here, it’s free.
• Analog Semiconductors company Texas Instruments (NASDAQ: TXN) fell 3.3%. Is now the time to buy Texas Instruments? Access our full analysis report here, it’s free.
• Semiconductor Manufacturing company FormFactor (NASDAQ: FORM) fell 4.5%. Is now the time to buy FormFactor? Access our full analysis report here, it’s free.
• Semiconductor Manufacturing company Amkor (NASDAQ: AMKR) fell 3.3%. Is now the time to buy Amkor? Access our full analysis report here, it’s free.

Zooming In On FormFactor (FORM)

FormFactor’s shares are extremely volatile and have had 68 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 5 days ago when the stock gained 3.1% on the news that Nvidia reported blowout quarterly earnings and issued an upbeat revenue forecast, easing investor fears of a slowdown in artificial intelligence infrastructure spending. Shares across the semiconductor industry surged following the chipmaker's strong second-quarter beats on both revenue and profit, alongside an upbeat revenue outlook for the upcoming third quarter. Peer chipmakers and hardware suppliers, including Broadcom, Micron Technology, Intel, and Marvell Technology, advanced in tandem as the results eased market anxiety regarding near-term demand sustainability. Nvidia CEO Jensen Huang confirmed on the earnings call that the AI infrastructure build-out is "at full steam," serving as a broad positive catalyst for component and hardware suppliers across the entire supply chain.

FormFactor is up 63% since the beginning of the year, but at $96.50 per share, it is still trading 39.7% below its 52-week high of $159.93 from June 2026. Investors who bought $1,000 worth of FormFactor’s shares 5 years ago would now be looking at an investment worth $2,472.

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