AI Stocks Face Turbulence Amid Market Rotation
Tech stocks experienced a decline for the second consecutive day, raising alarms about the sustainability of the AI boom. Key players like Nvidia (NVDA), Alphabet (GOOGL), and Amazon (AMZN) saw notable drops amid growing investor skepticism.
Key Highlights:
- Stock Performance:
- Nvidia down 0.8%
- Alphabet down 0.6%
- Amazon, Apple, and Meta each fell over 1%
- Market Sentiment Shifts:
- MIT report reveals 95% of companies see no return on AI investments.
- OpenAI’s Sam Altman suggests an AI bubble may exist.
Analyst Perspectives:
- Gil Luria: The market is undergoing a “pendulum swing” to reality.
- Dan Ives: AI’s potential is far from exhausted, with trillions still funneled into tech.
The coming weeks will be pivotal as leading firms report quarterly results, influencing market direction.
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