In this week’s Navellier Market Buzz, I explain why last week’s AI pullback was more of a Wall Street shakeout than a warning sign.
Listen to the audio version of this article (generated by AI).
Last week, three of the market’s hottest AI stocks took a beating.
Micron Technology, Inc. (MU) fell about 14% in just five trading days. Seagate Technology Holdings plc (STX) dropped nearly 18%. And Sandisk Corporation (SNDK) tumbled almost 20%.
At first glance, it looked like investors were dumping AI memory stocks.
But that’s not what happened.
US Stocks: Micron, Intel and other chip stocks fall up to 11% after record-breaking rally
AI stocks stumble while Bitcoin holds its ground
SanDisk shares crash 10% as AI chip selloff spreads to memory stocks
Semiconductor stocks stumble as investors question the AI trade
Wall Street slipped on Friday as another sharp selloff in artificial intelligence (AI)-linked stocks outweighed gains across much…
On Tuesday, investors were dumping AI stocks, worried that frothy valuations may be running away from reality. By Thursday, they…
Micron Technology (MU) plunged about 13.3% on Friday, following a 7.7% decline on the previous day amid a selloff in stocks in…
Micron's stellar earnings confirm the AI memory supercycle. They also confirm the crowd has arrived; and smart money is tracking…
Chip and AI stocks are under pressure today due to weak signals from the sector and hotter-than-expected economic data. On top of…
Micron and Cerebras report this week. Also there's heavy options activity in Super Micro.
