WS #12959
Nasdaq-100 enters correction as chip stocks plunge on AI spending sustainability fears and Chinese competition; SK Hynix misses estimates despite record profit, while KLA and Seagate offer mixed outlooks. A 7.1 magnitude earthquake struck Kumamoto, Japan, a key semiconductor manufacturing hub, killing at least 13 and disrupting chip supply chains. Apple briefly hit a $5 trillion market cap for the first time, contrasting with the broader tech selloff and signaling continued investor confidence in the company.
Global Chip Selloff and AI Spending Concerns
Nasdaq-100 enters correction as chip stocks plunge on AI spending sustainability fears and Chinese competition; SK Hynix misses estimates despite record profit, while KLA and Seagate offer mixed outlooks.
A 7.1 magnitude earthquake struck Kumamoto, Japan, a key semiconductor manufacturing hub, killing at least 13 and disrupting chip supply chains.
Apple briefly hit a $5 trillion market cap for the first time, contrasting with the broader tech selloff and signaling continued investor confidence in the company.