WS #13247
The SOX plunged 21% in July, its worst month since 2008, on AI spending sustainability concerns, pressuring chip stocks like NVDA and AMD. Apple faces a memory shortage that will constrain iPhone/iPad/Mac supply in the September quarter, leading JP Morgan to cut its price target, a bearish signal for AAPL. Microsoft's $450B single-day market cap gain on strong Azure results (43% growth) stands as a bullish counter to the AI selloff, highlighting divergence within the MAG7.
AI/chip selloff continues with SOX worst month since 2008
The SOX plunged 21% in July, its worst month since 2008, on AI spending sustainability concerns, pressuring chip stocks like NVDA and AMD.
Apple faces a memory shortage that will constrain iPhone/iPad/Mac supply in the September quarter, leading JP Morgan to cut its price target, a bearish signal for AAPL.
Microsoft's $450B single-day market cap gain on strong Azure results (43% growth) stands as a bullish counter to the AI selloff, highlighting divergence within the MAG7.