WS #13246
Semiconductor index SOX plunged 21% in July, worst month since 2008, as investors question AI spending sustainability; Nvidia's $750B AI spending and OpenAI guarantee add to bubble concerns. Apple warned memory shortage will constrain iPhone/iPad/Mac supply in September quarter; JP Morgan cut price target, pressuring AAPL. Microsoft added $450B in market cap in a single day after Azure revenue grew 43%, a bullish counter to the AI selloff.
AI/chip selloff intensifies
Semiconductor index SOX plunged 21% in July, worst month since 2008, as investors question AI spending sustainability; Nvidia's $750B AI spending and OpenAI guarantee add to bubble concerns.
Apple warned memory shortage will constrain iPhone/iPad/Mac supply in September quarter; JP Morgan cut price target, pressuring AAPL.
Microsoft added $450B in market cap in a single day after Azure revenue grew 43%, a bullish counter to the AI selloff.