September 19 Market Report: Intel Tops Semiconductor Stocks
Intel rose 0.08%, posting the largest gain among major semiconductor stocks on the day.
In the New York market on September 18, 2026, the semiconductor sector broadly extended its rally. Micron rose 0.05% from the previous session to 977.5 won, while TSMC (Taiwan Semiconductor) also gained 0.03% to close at 430.26 won. Nvidia finished slightly higher at 219.34 won. While the individual price moves were modest, the broad-based strength across the sector carries significance.
Gains and Losses Among Major Semiconductor and Tech Stocks
| Stock | Price | Change | Market Cap | P/E | EPS Growth |
|---|---|---|---|---|---|
| Intel | 108.80 won | +0.08% | 0.58 trillion won | - | 9,865.5% |
| AMD | 545.09 won | +0.06% | 0.89 trillion won | 139.1 | 16,435.6% |
| Micron | 977.50 won | +0.05% | 1.10 trillion won | 22.1 | - |
| Nvidia | 219.34 won | +0.03% | 5.30 trillion won | 27.7 | 6,599.3% |
| TSMC | 430.26 won | +0.03% | 2.23 trillion won | 32.1 | 4,430.2% |
| ASML | 1,629.67 won | +0.02% | 0.63 trillion won | 55.6 | - |
| Broadcom | 347.30 won | +0.02% | 1.66 trillion won | 44.2 | - |
As the table shows, the sector's gainers ranked Intel first, followed by AMD and Micron. Notably, Intel has no P/E ratio on record, suggesting the company's earnings make a price-to-earnings calculation on a profit basis difficult. However, with EPS growth recorded at 9,865.5%, its losses appear to have narrowed sharply, raising the possibility that the company has entered a recovery phase. AMD also posted the largest earnings improvement in the sample, with EPS growth of 16,435.6%.
What the Valuation Gap Tells Us
The valuation dispersion within the sector is considerable. Micron's P/E of 22.1 is among the lowest in the sector. By contrast, ASML trades at 55.6 and Broadcom at 44.2, more than twice as high. This gap shows the market is pricing in different growth expectations for each company — a high premium for equipment and AI chip design firms, and a relatively conservative assessment for memory-centric companies.
Nvidia remains the sector's runaway leader with a market capitalization of 5.30 trillion won, far ahead of TSMC at 2.23 trillion won and Broadcom at 1.66 trillion won. Factoring in a P/E of 27.7 against EPS growth of 6,599.3%, the stock's valuation relative to earnings can be seen as less demanding than the headline numbers suggest.
The Bigger Market Picture
The three major U.S. indexes reportedly closed mixed on the day, without a clear direction. Individual large-cap tech stocks also moved within a range of just 0.01% to 0.03% — Apple up 0.01%, Microsoft up 0.02%, and Alphabet up 0.01%. Against this backdrop, the semiconductor sector's relatively superior gains suggest that capital flows continue to be directed toward the tangible AI economy.
The domestic market echoed the semiconductor strength, with Samsung Electronics and SK Hynix also rising. However, with external variables still in play — including the Federal Reserve's monetary policy direction and U.S.-China relations — heightened short-term volatility cannot be ruled out.
Investment Implications and Outlook
At this point in time, what stands out about the semiconductor sector is not the modest gains but its structure. Investment theses have diverged into distinct narratives: the recovery momentum at Intel and AMD, where earnings improvement has been confirmed; Micron's undervalued range; and the stable premiums maintained by Nvidia and TSMC.
In the short term, hawkish rate concerns and the durability of AI demand are likely to determine the sector's volatility. That said, as the EPS growth data show, semiconductor companies are improving earnings at a much steeper pace than other sectors, suggesting that any pullback could instead be seized as an opportunity for buying in tranches.
