WS #12272
Moonshot AI's open-source Kimi K3 model beats US frontier models, triggering semiconductor selloff; Netflix drops 11%+ on weak guidance; TSMC capex concerns weigh on sector. HSBC upgrades Apple to Buy with $366 target on agentic AI and hardware pipeline, making it a standout amid tech weakness.
Tech Selloff on Chinese AI Competition and Capex Fatigue
Moonshot AI's open-source Kimi K3 model beats US frontier models, triggering semiconductor selloff; Netflix drops 11%+ on weak guidance; TSMC capex concerns weigh on sector.
HSBC upgrades Apple to Buy with $366 target on agentic AI and hardware pipeline, making it a standout amid tech weakness.