WS #16009
A broad-based selloff in technology stocks is dragging down semiconductor names, with Intel down 4.1% and AMD and Micron following suit. The sell-off is partly attributed to a 'meltdown' in AI stocks, with analysts questioning the cost of capital for AI growth curves, particularly regarding Anthropic's reported junk credit rating. Despite the sector-wide weakness, Apple's iPhone Duo sold out immediately, highlighting a divergence in demand strength within the tech giant's portfolio.
Tech Selloff & Semiconductor Weakness
A broad-based selloff in technology stocks is dragging down semiconductor names, with Intel down 4.1% and AMD and Micron following suit. The sell-off is partly attributed to a 'meltdown' in AI stocks, with analysts questioning the cost of capital for AI growth curves, particularly regarding Anthropic's reported junk credit rating. Despite the sector-wide weakness, Apple's iPhone Duo sold out immediately, highlighting a divergence in demand strength within the tech giant's portfolio.