Chip Stocks Slide 5% Even After TSMC's Record Profit

TSMC, the world's largest chipmaker, earned about US$21.98 billion in Q2 2026 — up 77% from a year earlier and above what analysts expected. Yet chip stocks fell 5% on July 16, 2026, worldwide. Why? Investors weren't celebrating the profit. They were asking whether spending on artificial intelligence can keep growing this fast.