AI chips have been falling steadily, and tonight’s decline is no longer just a routine pullback!
After climbing above 240 last week, $NVDA began to pull back and had fallen to around 225 by tonight’s session.
The Philadelphia Semiconductor Index (SOX) continued to fall tonight, weakening for a fourth consecutive trading day. All 30 of its components declined, bringing its cumulative loss over the past four days to nearly 7%.
Last week, the market had already begun to worry again about whether massive AI capital expenditures could be matched by actual revenue growth. Core chip stocks such as NVDA, AMD AMD, and AVGO are all pulling back in tandem, suggesting that selling pressure is no longer confined to high-beta second-tier names.
Memory stocks are continuing to face additional pressure. MU reported strong earnings but failed to attract sustained buying. Today, concerns about competition sparked by CXMT’s technological progress sent stocks tumbling from South Korea’s SK Hynix and Samsung to U.S. names Micron and $SNDK SanDisk!
This downturn isn’t just about memory stocks, either. Long-term demand for AI may still be strong, but short-term investors have begun reducing their risk exposure, so this correction may not be over yet.
The fact that Nvidia, a sector leader, and other high-beta stocks are falling suggests that selling pressure is spreading across the entire sector.
And Wednesday’s CPI report and ASML earnings, as well as TSMC’s earnings on Thursday, are still ahead. In a situation like this, I don’t think investors will rush back in to buy the dip on a large scale. AI semiconductors may complete their correction around the midterm elections. We’ll see!
#代币化股票总市值创39亿美元新高
After climbing above 240 last week, $NVDA began to pull back and had fallen to around 225 by tonight’s session.
The Philadelphia Semiconductor Index (SOX) continued to fall tonight, weakening for a fourth consecutive trading day. All 30 of its components declined, bringing its cumulative loss over the past four days to nearly 7%.
Last week, the market had already begun to worry again about whether massive AI capital expenditures could be matched by actual revenue growth. Core chip stocks such as NVDA, AMD AMD, and AVGO are all pulling back in tandem, suggesting that selling pressure is no longer confined to high-beta second-tier names.
Memory stocks are continuing to face additional pressure. MU reported strong earnings but failed to attract sustained buying. Today, concerns about competition sparked by CXMT’s technological progress sent stocks tumbling from South Korea’s SK Hynix and Samsung to U.S. names Micron and $SNDK SanDisk!
This downturn isn’t just about memory stocks, either. Long-term demand for AI may still be strong, but short-term investors have begun reducing their risk exposure, so this correction may not be over yet.
The fact that Nvidia, a sector leader, and other high-beta stocks are falling suggests that selling pressure is spreading across the entire sector.
And Wednesday’s CPI report and ASML earnings, as well as TSMC’s earnings on Thursday, are still ahead. In a situation like this, I don’t think investors will rush back in to buy the dip on a large scale. AI semiconductors may complete their correction around the midterm elections. We’ll see!
#代币化股票总市值创39亿美元新高