Omdia says the PC market fell 3.6% in Q2 2026 and sub-$400 phone shipments will drop 22%, as AI's hunger for memory chips pushes device prices up.

Semiconductor stocks slide as Wall Street questions AI capex growth, erasing $1.3 trillion and putting Intel, Micron and AMD under pressure amid rising rate fears.

The global AI memory squeeze is pricing cheap phones out of existence.