Key Highlights

● Vishay fell on October 22 as semiconductor stocks sold off.

● The move came without company-specific news.

● Lam guided December-quarter revenue to $8.6 billion, plus or minus $400 million.

● The Cboe Volatility Index rose 2.35 points to 19.03.

Vishay Intertechnology (NYSE:VSH) fell on Thursday, October 22, 2026, sliding among decliners on the NYSE Composite as investors sold semiconductor stocks across the board. The move came without company-specific news and tracked a sector-wide retreat.

Vishay was one of several smaller chip names caught in the selling, alongside AMD (NASDAQ:AMD), Monolithic Power Systems (NASDAQ:MPWR), MACOM (NASDAQ:MTSI) Technology and Semtech (NASDAQ:SMTC), all of which fell sharply on the day.

The trigger

The selloff traced back to Lam Research (NASDAQ:LRCX), one of the world's biggest makers of chipmaking equipment. Lam's call warned that upstream parts shortages and certified clean-room constraints "continue to curb manufacturing velocity" and will persist into 2027.

Lam's chief financial officer said revenue would have been higher without "near-term supply chain constraints that we are actively managing." He added that "things are going to continue to be constrained."

Lam's December-quarter revenue guidance of $8.6 billion, plus or minus $400 million, had a midpoint slightly below what some investors had hoped for. Its shares fell sharply, and the selling spread across the industry.

Meta Platforms (NASDAQ:META) added to the pressure. Its third-quarter report showed heavy capital spending plans and its first cash outflow in more than a decade, according to market data, raising questions about how long the AI investment boom can last.

Why Vishay was hit

Vishay makes discrete semiconductors, such as diodes and transistors, and passive electronic components, including resistors, inductors and capacitors. Its products go into cars, industrial equipment, computers and communications gear.

While it is not a pure-play AI company, Vishay is part of the broader semiconductor supply chain, and selling in chip stocks often spreads to names across the industry when investors pull money from the group. Small-cap semiconductor and semiconductor equipment names were hit especially hard on Thursday.

FormFactor (NASDAQ:FORM), Penguin Solutions (NASDAQ:PENG) and Cohu (NASDAQ:COHU) also fell sharply during the session.

The scale of the selloff

The Philadelphia Semiconductor Index posted its biggest one-day drop since June 23. Despite the decline, the index remains well up for the year, according to market data.

The Nasdaq Composite fell 694.00 points to 26,008.86, its steepest drop since June 5, losing about $1 trillion in market value. The S&P 500 lost 93.74 points to 7,663.43, its worst day since July.

Outside of technology, the picture was brighter. About two of every three S&P 500 stocks rose, according to market reports, and the Dow Jones Industrial Average edged up 11.89 points to 52,867.98. Consumer staples and health care hit records.

The Cboe Volatility Index rose 2.35 points to 19.03, and new lows outnumbered new highs on both the New York Stock Exchange and the Nasdaq, according to market data.

Vishay Looks to Automotive and Industrial Demand

Vishay's next earnings report will offer a direct read on demand from its automotive and industrial customers, which matter more to the company than AI data centers.

For the sector, the next big tests are Big Tech earnings. Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL) report on Wednesday, October 28, and Intel (NASDAQ:INTC) and Amazon (NASDAQ:AMZN) report on October 29. The Federal Reserve's decision on October 28 could also sway sentiment toward riskier corners of the market.