Posted 3/5/2024, 2:48:06 PM
Tech Giants Stumble as AI Hype Fades, China Pressures Mount
- The "Magnificent Seven" tech stocks (Microsoft, Apple, Nvidia, Tesla, Alphabet, Meta, Amazon) have lost momentum recently as AI hype fades
- Apple and Tesla facing pressures in critical Chinese market, with Apple sales down 24% and Tesla shipping fewer cars
- Tech rally and valuations questioned as possible bubble, divergence seen between QQQ and lagging Apple stock
- Semiconductors like Broadcom key to watch for read on B2B demand in China amid consumer weakness
- Fantastic Four term highlights realignment and ongoing concentration even within Magnificent Seven group