Free market is a great idea, but it’s fragile in that it requires good faith in order to be fair and it’s not immune to tragedies of the commons.
Hoarding or panic buying is an example of bad-faith behavior. Panic buying hurts buyers without means to hoard. With groceries, it might mean their children going hungry after a rich guy empties out local store (not everywhere a store manager can flat out refuse to sell). With microchips, where bad-faith behavior may also be amplified by information asymmetry (coordinated action by large number of players), it may mean stagnation in the industry and wide-reaching implications for everything that has grown to rely on microchips (which, incidentally, includes the above-mentioned grocery stores, their supplies and so on).
With groceries it is a bit easier to understand the impact of your actions, because the aforementioned local rich will see hungry children’s parents day to day. With microchips and global market, the negative impact is far removed (and in many cases can be considered beneficial, if country boss designates some group of humans as “the enemy”), and one is incentivised to keep looking for ways to exploit market mechanics technically legally but in bad faith.
Hoarding of microchips makes me worry about the global market. It may seem like a good idea to include bad guys into it, since participating in it may make them more interested in getting along with everybody, but if we have one psychopathic, chronically insecure participant insisting on playing a zero-sum game it’s feasible that they ruin the whole initiative and “outplay” the rest who assume the best in others.