WS #11276
Philadelphia Semiconductor Index plunged over 7% as Citi analyst warned of cooling AI chip demand, Meta's plan to sell AI compute capacity sparked overcapacity fears, and Apple's talks with Chinese chip suppliers added competitive pressure. Apple surged 4.84% on the day, while Tesla fell 7.49% despite record Q2 deliveries, and Meta dropped 4.9% on AI agent development concerns and overcapacity fears.
Semiconductor Selloff Deepens on AI Demand Fears
Philadelphia Semiconductor Index plunged over 7% as Citi analyst warned of cooling AI chip demand, Meta's plan to sell AI compute capacity sparked overcapacity fears, and Apple's talks with Chinese chip suppliers added competitive pressure.
Apple surged 4.84% on the day, while Tesla fell 7.49% despite record Q2 deliveries, and Meta dropped 4.9% on AI agent development concerns and overcapacity fears.