WS #12273
Chip stocks have worst month ever vs software as China's Moonshot AI K3 model beats frontier US models, triggering broad semiconductor rout; NVDA, AMD, INTC, GOOGL, META, AMZN, TSLA all weak. Apple upgraded to Buy by HSBC with $366 target, citing strong cycle and agentic AI; AAPL holding best among MAG7 during tech selloff.
Tech/AI selloff deepens on Chinese AI competition
Chip stocks have worst month ever vs software as China's Moonshot AI K3 model beats frontier US models, triggering broad semiconductor rout; NVDA, AMD, INTC, GOOGL, META, AMZN, TSLA all weak.
Apple upgraded to Buy by HSBC with $366 target, citing strong cycle and agentic AI; AAPL holding best among MAG7 during tech selloff.