Signs are piling up that the tech downturn may be deeper and longer-lasting than feared.

After years of record capital spending, chipmakers are warning on a weekly basis that demand is sputtering. In the latest sign of trouble, After years of record capital spending, chipmakers are warning on a weekly basis that demand is sputtering. In the latest sign of trouble, Samsung Electronics Co. and Advanced Micro Devices Inc. reported disappointing results within hours of each other that widely missed projections.
Samsung -- the world’s largest memory chipmaker -- reported a 32% dive in operating income, while PC-processor maker AMD said it will miss its earlier forecast by about $1 billion. Analysts’ reactions ranged from “breathtaking” to “Uff-da!”
Those numbers followed grim comments from memory makers Micron Technologies Inc. and Kioxia Holdings Corp., which are slashing spending and output in a bid to stabilize plummeting prices. $Advanced Micro Devices (AMD.US)$ shares fell in premarket trading, along with chipmakers including $NVIDIA (NVDA.US)$ and $Intel (INTC.US)$ Chip gear suppliers such as $ASML Holding NV (ASMLF.US)$ and PC makers including Lenovo Group Ltd. also dropped. Japan’s Disco Corp., whose equipment grinds, polishes and dices chips, lost the most in more than two years Friday.
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