WS #11258
Semiconductor stocks are in a sharp selloff as Meta plans to sell excess AI compute and Anthropic develops custom AI chips with Samsung, threatening demand for NVDA, AMD, AVGO, MRVL, and memory stocks. Apple stock rose 4% amid tech slump, with BofA maintaining $380 target on AI potential and App Store growth, and reports of strong foldable iPhone production plans.
Semiconductor Selloff on Meta Cloud and Custom Chip Fears
Semiconductor stocks are in a sharp selloff as Meta plans to sell excess AI compute and Anthropic develops custom AI chips with Samsung, threatening demand for NVDA, AMD, AVGO, MRVL, and memory stocks.
Apple stock rose 4% amid tech slump, with BofA maintaining $380 target on AI potential and App Store growth, and reports of strong foldable iPhone production plans.