WS #12926
Growth-oriented AI-exposed stocks continue retracement; Corning (GLW) down despite strong Q2 (sales +17%, EPS +30%, FCF $1.42B) as Q3 guidance 1% below consensus triggers selloff, but AI demand remains robust. Apple briefly hit $5 trillion market cap, becoming the second company ever to do so, as AI narrative shifts from hyperscaler capex to Apple's capital discipline, contradicting the broader tech selloff.
AI Memory Trade Pullback Continues
Growth-oriented AI-exposed stocks continue retracement; Corning (GLW) down despite strong Q2 (sales +17%, EPS +30%, FCF $1.42B) as Q3 guidance 1% below consensus triggers selloff, but AI demand remains robust.
Apple briefly hit $5 trillion market cap, becoming the second company ever to do so, as AI narrative shifts from hyperscaler capex to Apple's capital discipline, contradicting the broader tech selloff.