The AI and chip related stocks continued their runs to the downside sending the Nasdaq down by -1.47%. The NASDAQ 100 fell by -1.61%.
A snapshot of the closing levels shows industrial average:
- Dow industrial average fell -106.01 points or -0.20% to 52558.27
- S&P index fell -38.63 points or -0.51% to 7533.76
- Nasdaq index fell -387.28 points or -1.47% to 25881.95
- Russell 2000 fell -1.69 points or -0.06% to 2974.56
Looking at some of the chip/AI infrastructure related stocks, they continued there slide. Below is a sampling of the declines for the trading day (all fell by -5.0% or more)’s:
- Nebius (NBIS) fell -$27.74 or -13.90% to $171.77.
- Sandisk (SNDK) fell -$203.92 or -12.63% to $1,411.08.
- Astera Labs (ALAB) fell -$30.88 or -8.81% to $319.74.
- Marvell Technology (MRVL) fell -$17.96 or -8.71% to $188.30.
- Credo Technology (CRDO) fell -$18.50 or -8.16% to $208.24.
- Coherent (COHR) fell -$22.42 or -7.49% to $276.96.
- Lumentum Holdings (LITE) fell -$45.77 or -6.09% to $706.23.
- Intel (INTC) fell -$5.93 or -5.76% to $97.06.
- Micron Technology (MU) fell -$51.08 or -5.65% to $853.20.
- Arm Holdings (ARM) fell -$15.00 or -5.41% to $262.01.
- Advanced Micro Devices (AMD) fell -$28.20 or -5.33% to $500.94.
- Broadcom (AVGO) fell -$19.83 or -5.03% to $374.45.
Even with the oversized declines of over 5% today, all on the list – with the exception of Broadcom at +8.19% – are up by a lot year-to-date with SanDisk leading the way with a gain of 494.44%. That is impressive but also scary at the same time.
- Nebius +105.15% (-43% from the high)
- SanDisk +494.44% (down -40.49% from the high)
- Astera Labs, +90.33% (-36.7% from the high
- Marvell +121.57% (-43.49% from the high)
- Credo Technology, +44.50% (-34% from the high)
- Lumentum Holdings, + 91.6% (-35.9% from the high)
- Intel (INTC), +162.98% (-32.49% from the high)
- Micron Technology, +137.43% (-33.5% from the high)
- Arm Holdings (ARM), +137.43% (-44.1% from the high)
- Advanced Micro Devices (AMD), +198.94% (-15.13% from the high)
- Broadcom (AVGO),, +8.19% (-24.2% from the high)
The gains make the Magnificent 7 look like penny stocks:
- Apple +22.59%
- Alphabet, +13.25%
- Nvidia, +11.21%
- Amazon, 0.27%
- Matt, +0.67%
- Tesla, -13.04%
- Microsoft, -17.06%
After the close Netflix reported EPS of $0.80 versus $0.79 expected on revenues of $12.6 billion versus $4.58 billion expected. Shares are down $5.85 or -7.87% and $68.50. That’s the lowest level going back to October 2024.
This article was written by Greg Michalowski at investinglive.com.