WS #11219
Meta's cloud business announcement and OpenAI's more efficient model triggered a rotation out of chip stocks, with KOSPI down 6.25%, SK Hynix -9.34%, Samsung -7.71%, and the Philadelphia Semiconductor Index -6.3%. Apple plans to launch 5 new iPhone models including a foldable (10M units target) to gain market share amid a memory crunch, while also reportedly seeking Chinese memory chips from CXMT and YMTC.
Tech Rotation and Chip Selloff
Meta's cloud business announcement and OpenAI's more efficient model triggered a rotation out of chip stocks, with KOSPI down 6.25%, SK Hynix -9.34%, Samsung -7.71%, and the Philadelphia Semiconductor Index -6.3%.
Apple plans to launch 5 new iPhone models including a foldable (10M units target) to gain market share amid a memory crunch, while also reportedly seeking Chinese memory chips from CXMT and YMTC.