WS #12908
Corning's Q2 revenue guidance miss (below $5B consensus) sent shares down 18%, dragging Marvell, Lumentum, AXT, Coherent, and Rambus lower, reinforcing the AI hardware selloff narrative. Apple briefly became the second company ever to notch a $5 trillion market valuation, driven by its lack of huge AI spending and safe-haven demand amid chip sector selloff.
Corning earnings miss triggers optical/AI hardware rout
Corning's Q2 revenue guidance miss (below $5B consensus) sent shares down 18%, dragging Marvell, Lumentum, AXT, Coherent, and Rambus lower, reinforcing the AI hardware selloff narrative.
Apple briefly became the second company ever to notch a $5 trillion market valuation, driven by its lack of huge AI spending and safe-haven demand amid chip sector selloff.