MACOM (MTSI), FormFactor (FORM), Seagate (STX) Tumble in Global Chip Rout

Shares of MACOM Technology Solutions (MTSI), FormFactor (FORM), and Seagate Technology (STX) dropped sharply on June 6, 2026, as a global semiconductor selloff followed Broadcom's disappointing guidance and a stronger-than-expected U.S. jobs report. Broadcom's outlook reset expectations for hyperscaler AI chip spending, removing a key growth catalyst for the sector. The Labor Department's report showed 172,000 payroll additions, extinguishing near-term interest rate cut hopes and raising the risk of a rate hike before year-end, according to CME FedWatch. Semiconductor valuations, which hinge on aggressive multi-year earnings forecasts, are highly sensitive to rising discount rates. The selloff extended globally: South Korea's Kospi fell 5.5%, with Samsung down 6.4% and SK Hynix nearly 10%. European chip stocks ASML and Infineon also declined more than 3% and 6%, respectively. Seagate, which had surged 200% year-to-date, remained near its 52-week high despite the drop.