WS #16531
Alphabet's significant earnings miss and warning on AI capital expenditures have sparked a massive reassessment of tech valuations, dragging the Nasdaq lower. The selloff has spread to the semiconductor supply chain, with Broadcom, Micron, and Nvidia all declining as customers tighten balance sheets. ServiceNow's 25% plunge on a contract outlook miss further confirms weakness in enterprise software demand, suggesting the tech rally may be overextended.
Tech Selloff and AI Capex Repricing
Alphabet's significant earnings miss and warning on AI capital expenditures have sparked a massive reassessment of tech valuations, dragging the Nasdaq lower. The selloff has spread to the semiconductor supply chain, with Broadcom, Micron, and Nvidia all declining as customers tighten balance sheets. ServiceNow's 25% plunge on a contract outlook miss further confirms weakness in enterprise software demand, suggesting the tech rally may be overextended.