Onto Innovation is trading at $254.61 (down 7.7%) as semiconductor and chip-equipment stocks face a sharp pullback following reports of a state-backed Chinese firm mass-producing advanced chipmaking gear.
- The news has heightened competitive and geopolitical concerns, weighing on equipment manufacturers that have benefited from the recent AI-driven rally.
- The broader SOXX semiconductor ETF is down 3.49%, reflecting investor profit-taking and worries regarding stretched valuations across the sector.