CNBC's "Fast Money" Semi Selloff… And Tech Giants Caught In The Middle Of U.S./China Tensions 4/19/24
Apr 19, 2024
Chip stocks leading tech sell off, with semi slip concerns. Apple and Meta under U.S./China tensions. Is TikTok retaliation looming? Market volatility, stock performance, tech earnings preview, and luxury travel trends discussed.
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Tech Sell-Off and Market Leadership
- The magnificent seven tech stocks lost nearly $8 trillion in value since Monday.
- This raises concerns about the bull market's strength if chip stocks, the market leaders, continue to decline.
Data Points and Sentiment Shift
- Several data points suggest a shift in sentiment and potential concerns for the AI semi-trade.
- Super Micro didn't pre-announce earnings, ASML had disappointing booking numbers, and TSMC cut their semi-growth forecast.
Parabolic Moves and Pullbacks
- Expect sharp pullbacks in parabolic stock movements, as seen with Nvidia's 10% drop.
- Consider the stock's overall growth, as Nvidia quadrupled before this correction.