WS #11207
Semiconductor stocks continued to decline sharply, with KLAC -11%, AMAT -10%, MU -10%, and INTC -8%, as the rotation out of AI winners persists into Q3. Meta's plan to launch a cloud-computing business, selling excess AI computing capacity, drove the stock up ~10%, providing a bullish counter-narrative to the tech selloff. A $265M dark pool order in QQQ (366,000 shares at $725.17) suggests institutional accumulation despite the tech selloff. Spain blacklisted Palantir from all public and private sector contracts over national security concerns, a bearish signal for PLTR. Apple cut iPhone 17 production by ~15% amid slowing demand as consumers await the iPhone 18, signaling softening near-term revenue.
Semiconductor selloff deepens
Semiconductor stocks continued to decline sharply, with KLAC -11%, AMAT -10%, MU -10%, and INTC -8%, as the rotation out of AI winners persists into Q3.
Meta's plan to launch a cloud-computing business, selling excess AI computing capacity, drove the stock up ~10%, providing a bullish counter-narrative to the tech selloff.
A $265M dark pool order in QQQ (366,000 shares at $725.17) suggests institutional accumulation despite the tech selloff.
Spain blacklisted Palantir from all public and private sector contracts over national security concerns, a bearish signal for PLTR.
Apple cut iPhone 17 production by ~15% amid slowing demand as consumers await the iPhone 18, signaling softening near-term revenue.