$SPY dropped 1.4% last week driven by sell offs in semiconductor names and hyperscalers. - $MU$TXN$TER$LRCX$COHR$AMAT$AMD$AVGO$NVDA all experienced drops ranging from 5 - 10%. The sell off was primarily driven by SK Hynix pulling back its expansion plans in AI memory and switching back to traditional consumer chips. This led to fears that AI chip pricing premium might be coming down. - Hyperscalers $META$GOOGL$MSFT$AMZN$AAPL also dropped on spending concerns and OpenAI dwlaying its IPO. Questions are now arising if all the spend on AI is going to be validated by the returns. - Rate hike and rising geopolitical concerns also led to selloff in growth stocks like $IONQ$RKLB$INFQ Personally, I feel there is more volatility ahead and thats why I have encouraged everyone to diversify. Yes my portfolio also declined but by only .35% over the week beating both $SPY and $QQQ. I dunno about you but I am never going to focus just on one sector. That's why while everyone was buying AI names at all time highs, I started a new position in boring $DUK . Keep investing, not gambling !! ✌️✌️
