Intel (NASDAQ:INTC) shares plunged 7.3% on Tuesday to close at $18.13, which marked the lowest closing price since July 2009, as tariff concerns continue to rock the semiconductor sector.

Intel's shares have declined more than 50% in the last year. Intel hired former board member and Cadence Design Systems (CDNS) CEO Lip-Bu Tan last month to help right the ship. Last year, Intel reported cash flow of negative $2.2B. Intel is banking on the success of 18A, its new semiconductor manufacturing process, for its foundry business. Its lead product is expected to launch during the second half of this year.

"If things go well for 18A later this year, then Tan can see the culture issues he outlined fixed for ongoing operations," said Joe Albano, Investing Group Leader for Tech Cache, in an analysis posted today. "If 18A doesn't go well, this is a continued road to attempting to fix foundational issues with debt burying the company."

Semi stocks across the board declined on Tuesday, with multiple companies hitting multi-year lows. Qorvo (NASDAQ:QRVO) sank 9.9%, reaching its lowest share price since 2016. Micron Technology (NASDAQ:MU) declined 4.1%, with shares closing at their lowest since 2023. Advanced Micro Devices (NASDAQ:AMD) sank 6.5%, hitting its lowest point since February 2023.

Qualcomm (QCOM) fell 4%, and Nvidia (NVDA) slipped 1.6%. Taiwan Semiconductor Manufacturing (TSM) and Arm Holdings (ARM) both dropped 3%. 

Several semis dropped by double-digit percentages. Allegro MicroSystems (NASDAQ:ALGM) and Impinj (NASDAQ:PI) both plunged 10%, while Wolfspeed (NYSE:WOLF) tanked 15.8%. 

The Philadelphia Semiconductor Index (SOX) fell 3.6%.

Broadcom (NASDAQ:AVGO) was virtually the only stock in the sector not bleeding on Tuesday, as it ticked up 1.2% by the closing bell.