WS #11347
Semiconductor index fell 12% in two days on weak June payrolls (57K vs 110K expected) and SK Hynix slowing HBM expansion, signaling AI infrastructure demand may be peaking; Dow hit record on rotation into Apple and other sectors. Apple surged 5% after Bloomberg reported the company instructed suppliers to prepare 10 million foldable iPhones for autumn launch, pushing Apple close to overtaking Nvidia as world's most valuable company.
AI Chip Rotation and Weak Jobs Data
Semiconductor index fell 12% in two days on weak June payrolls (57K vs 110K expected) and SK Hynix slowing HBM expansion, signaling AI infrastructure demand may be peaking; Dow hit record on rotation into Apple and other sectors.
Apple surged 5% after Bloomberg reported the company instructed suppliers to prepare 10 million foldable iPhones for autumn launch, pushing Apple close to overtaking Nvidia as world's most valuable company.