WS #12920
Nasdaq 100 enters correction, memory stocks lose $2T+ since June highs, Amkor plunges 24% on weak guidance, Sandisk sinks 13%, Micron and Seagate down ~9%, Asian semiconductor stocks crash. Apple becomes second company ever to hit $5 trillion market cap as investors flee AI stocks into perceived safety, driven by strong product demand and sitting out AI spending race. Shares of software companies trading higher as sector rebounds from last week's sell-off, with rotation out of semiconductor and AI hardware stocks.
Tech/Semiconductor Selloff Escalates
Nasdaq 100 enters correction, memory stocks lose $2T+ since June highs, Amkor plunges 24% on weak guidance, Sandisk sinks 13%, Micron and Seagate down ~9%, Asian semiconductor stocks crash.
Apple becomes second company ever to hit $5 trillion market cap as investors flee AI stocks into perceived safety, driven by strong product demand and sitting out AI spending race.
Shares of software companies trading higher as sector rebounds from last week's sell-off, with rotation out of semiconductor and AI hardware stocks.