WS #12963
SK Hynix missed profit estimates despite record revenue, triggering a 10%+ stock drop and circuit breaker in South Korea; KOSPI down 7%; SoftBank, Tokyo Electron, and other chip stocks fell sharply, raising fears of AI spending slowdown. Apple briefly reached a $5 trillion market cap, becoming the second company to do so, as investors rotated from AI-heavy names to Apple's capital discipline ahead of earnings.
Asian Tech/Semiconductor Selloff
SK Hynix missed profit estimates despite record revenue, triggering a 10%+ stock drop and circuit breaker in South Korea; KOSPI down 7%; SoftBank, Tokyo Electron, and other chip stocks fell sharply, raising fears of AI spending slowdown.
Apple briefly reached a $5 trillion market cap, becoming the second company to do so, as investors rotated from AI-heavy names to Apple's capital discipline ahead of earnings.