CNBC host Jim Cramer may have called the turn before the tape confirmed it.
“Be careful; smell the reversal day,” he posted Tuesday morning, and by midday the AI trade was flashing red across semiconductors, server names, software and tech-heavy ETFs.
- SOXX is falling. See the chart and price action here.
The AI Carnage:
The hardest hit pocket was AI infrastructure. Dell Technologies Inc. (NYSE:DELL) dropped 7.16%, while Super Micro Computer, Inc. (NASDAQ:SMCI) fell 6.21%, extending pressure on two hardware names that have become closely tied to the AI server buildout.
Chip stocks also sold off sharply, with Advanced Micro Devices, Inc. (NASDAQ:AMD) down -6.66%, Arm Holdings Plc (NASDAQ:ARM) lower by 5.32% and Broadcom Inc. (NASDAQ:AVGO) sliding -4.44%.
The ETF tape showed the same rotation out of AI …
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