WS #11582
Samsung's record earnings failed to reassure investors, triggering a broad tech selloff in Asia with KOSPI down ~8%, Nikkei -1.8%, as AI valuation concerns mount. Microsoft cuts 4,800 jobs (2.1% of workforce), with Xbox division hit hardest, as AI investment costs rise and Game Pass growth disappoints. Broadcom extends custom chip supply agreement with Apple through 2031, boosting Broadcom's pre-market shares nearly 4%.
Asian Tech Selloff on AI Valuation Concerns
Samsung's record earnings failed to reassure investors, triggering a broad tech selloff in Asia with KOSPI down ~8%, Nikkei -1.8%, as AI valuation concerns mount.
Microsoft cuts 4,800 jobs (2.1% of workforce), with Xbox division hit hardest, as AI investment costs rise and Game Pass growth disappoints.
Broadcom extends custom chip supply agreement with Apple through 2031, boosting Broadcom's pre-market shares nearly 4%.