WS #14155
AI chip stocks sell off despite strong earnings, with Applied Materials -5.1% and Broadcom -5.9%, as Nvidia's Vera Rubin ramp squeezes NAND supply. Commerce Secretary Lutnick opposes Apple's plan to source memory chips from Chinese suppliers, pressuring Apple and benefiting Micron. Goolsbee says inflation data is 'a little better,' erasing near-term Fed rate hike expectations, supporting risk assets. Reddit to join S&P 500 next week, stock surged 12.6% on the news.
AI chip selloff
AI chip stocks sell off despite strong earnings, with Applied Materials -5.1% and Broadcom -5.9%, as Nvidia's Vera Rubin ramp squeezes NAND supply.
Commerce Secretary Lutnick opposes Apple's plan to source memory chips from Chinese suppliers, pressuring Apple and benefiting Micron.
Goolsbee says inflation data is 'a little better,' erasing near-term Fed rate hike expectations, supporting risk assets.
Reddit to join S&P 500 next week, stock surged 12.6% on the news.