The AI and semiconductor sector was one of the market’s weakest areas today as investors locked in profits ahead of another key week of earnings. Selling was widespread across chip designers, equipment makers, memory producers, and AI infrastructure stocks, reflecting a combination of stretched valuations, elevated expectations, and sector rotation rather than company-specific news.Some of the losers today include:
- SanDisk (SNDK) is down $179.36 or -12.49%
- Coherent (COHR) is down $24.04 or -8.51%
- Advanced Micro Devices (AMD) is down $42.44 or -8.13%
- Lumentum Holdings (LITE) is down $60.65 or -7.95%
- Lam Research (LRCX) is down $22.86 or -7.49%
- ASML Holding (ASML) is down $127.44 or -7.25%
- Astera Labs (ALAB) is down $18.06 or -6.19%
- Applied Materials (AMAT) is down $33.01 or -6.16%
- KLA Corp. (KLAC) is down $12.46 or -5.92%
- Micron Technology (MU) is down $53.57 or -5.82%
- NVIDIA (NVDA) is down $11.34 or -5.48%
- Credo Technology (CRDO) is down $10.74 or -5.04%
The Nasdaq index is puring back toward its 100 day MA at 24733. The low has reached 24774.87. The 38.2% of the move up from the March low is at 24707.22. For the S&P, it is dipping below the trend line near 7394. The price is just below that level currently. Seller are making a play. Can they keep the sellers in control?This week is a key earnings calendar week with Microsoft, Meta (Wednesday) and Apple and Amazon (Thursday) leading the charge.
- Tuesday:Before Open: Boeing, Coca-Cola, PayPal | After Close: Visa, Ford, Mondelez.
- Wednesday:Before Open: Procter & Gamble, ADP, SoFi | After Close:Microsoft, Meta, ARM, Qualcomm, Lam Research, Starbucks, Robinhood.
- Thursday:Before Open: Mastercard, Bristol Myers Squibb | After Close:Apple, Amazon, Coinbase, MicroStrategy.
- Friday:Before Open:Exxon Mobil, Chevron, AbbVie, Moderna.
This article was written by Greg Michalowski at investinglive.com.
