U.S. chip-related stocks are trading lower across the board. Marvell ($MRVL): -4.2% AMD ($AMD ): -3.0% Intel ($INTC ): -3.0% Applied Materials ($AMAT): -3.2% Nvidia ($NVDA ): -1.1% Broadcom ($AVGO): -0.8% Broad-based weakness across AI chips, semiconductors and equipment makers.
In all seriousness, there’s a perception among too many that it is somehow impossible for stocks to go down while AI models get better. That’s before you get into the people who seem to skip the step of actually understanding anything and just go “this is the AI stock I own and I am bullish on AI so when AI improves then my stock needs to go up” with zero…
*APPLIED MATERIALS 3Q ADJ EPS $3.50, EST. $3.42 $AMAT
Goldman Sachs added Applied Materials ( $AMAT), Delta ( $DAL), Microsoft ( $MSFT), O'Reilly Automotive ( $ORLY), Viking Holdings ( $VIK) and UPS to its U.S. Conviction List. The firm removed Broadcom ( $AVGO), Dick's Sporting Goods ( $DKS), Johnson & Johnson ( $JNJ) and ServiceNow ( $NOW).