🔴 Silicon Motion Technology is trading 5.6% down in pre-market amid semiconductor selloff on AI-spending concerns

Silicon Motion Technology is trading at $215.00, down 5.60% in pre-market amid a semiconductor selloff as investors weigh returns on heavy AI spending.

• Reuters reported Intel’s after-hours plunge and Amazon’s drop sent chipmakers into a tailspin.
• The price compares with the October 29 close of $227.75.
• Silicon Motion reported strong third-quarter results on October 29, with revenue of $560.2 million and non-GAAP EPS of $4.35; available evidence does not indicate a company-specific negative catalyst.