WS #11211
Semiconductor index plunges 6.3% (AMAT -10%, INTC -9%, AMD -6.9%) while META +8.8% on AI cloud launch; rotation from chips to AI/cloud plays. Microsoft planning third major layoff round (up to 5,500 jobs) next week, targeting sales, consulting, and Xbox divisions.
Tech Rotation: Semis Selloff, AI/Cloud Surge
Semiconductor index plunges 6.3% (AMAT -10%, INTC -9%, AMD -6.9%) while META +8.8% on AI cloud launch; rotation from chips to AI/cloud plays.
Microsoft planning third major layoff round (up to 5,500 jobs) next week, targeting sales, consulting, and Xbox divisions.