📉Qualcomm Drops 11% As Chip Stocks Pull Back From Record AI-Driven Rally
TL;DR
Qualcomm plummeted more than 11% in its worst session since 2020 as chip stocks pulled back from a six-week, AI-driven rally that pushed the Philadelphia Semiconductor Index up 60%. Memory chipmaker Micron had surged 38% the prior week — its best week since 2008 — before the sector reversal.
Qualcomm plummeted more than 11% in its worst session since 2020 as chip stocks pulled back from a six-week, AI-driven rally that pushed the Philadelphia Semiconductor Index up 60%. Memory chipmaker Micron had surged 38% the prior week — its best week since 2008 — before the sector reversal.
Key Points
Qualcomm down 11%, worst single session since 2020
Philadelphia Semiconductor Index up 60% in six weeks before pullback
Micron had surged 38% the prior week
Why It Matters
After a parabolic AI-driven run, semiconductor valuations are reset territory — and any signal about real chip demand vs. speculative buildup now moves markets sharply.
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