Semiconductor names are under pressure before the bell despite strong long-term AI demand signals.
📉 Intel ($INTC) dropped more than 4% premarket after a massive rally this year. 📉 Applied Materials ($AMAT) also slipped — even after raising its annual sales forecast on booming AI demand. 📉 Nvidia ($NVDA) and AMD ($AMD) joined the broader chip-sector pullback.
Meanwhile: 👜 LVMH announced the sale of Marc Jacobs in an $850M deal. 🚗 Stellantis revealed a new EV partnership with China’s Dongfeng Group.
Investors appear to be rotating out of overheated AI names after months of explosive gains. The big question now: healthy consolidation or start of a deeper tech pullback?
