BusinessHindustan Times
Chip stocks decline: Why Nvidia, AMD, Micron and SK Hynix shares are falling
in5points
The Philadelphia Semiconductor Index fell over 11% from a June record high, wiping out gains from AI-driven demand.
Investors are questioning whether the AI spending boom can sustain its pace, leading to profit booking in Nvidia, AMD, Micron, and SK Hynix.
Around $11 billion exited US chip funds in the week ended June 24, the largest weekly outflow this century, according to LSEG Lipper data.
SK Hynix shares fell sharply after its US trading debut, despite initially jumping over 10%.
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