<div id="readability-page-1"><div><div>                                                                                                                                                <p>Panic is gaining momentum after Alphabet (GOOG) posted strong advertising revenue growth. The market changed its mind about Alphabet’s prospects. OpenAI started testing an AI-powered search engine called SearchGPT.</p><p>SearchGPT may shake up Google search’s market share. For years, Google’s search results worsened, forcing users to spend more time on the page. This enabled the firm to pitch more ads. The concerns may prove incorrect. <br/>Google still had 81.95% of the search market as of January 2024. However, it may lose market share if SearchGPT is ad-free and provides answers immediately.</p><p>In the chip sector, AMD likely peaked at around $182 on July 11. The sharp drop in only two weeks, to $138.32, looks like a tech wreck. AMD reported a drop in gaming GPU sales in the last quarter yet the stock rallied. It delayed its Zen 5 AMD launch from July 31 to sometime in mid-August. </p><p>AMD’s delay is not material. It does not want to release a faulty product like Intel (INTC) did with the 13th and 14th generation CPUs.</p><p>In the smartphone sector, Qualcomm (QCOM) shares lost momentum after the stock topped $222.22 on June 17, 2024. As it opens today at $175.39, the stock still trades at a high premium. Its P/E is 19.94 times but its price/sales, EV/sales, and price/book ratios are all well above the sector average.<br/></p></div></div></div>

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<p>Panic is growing in the tech sector as Alphabet's strong advertising revenue growth causes concern about Google's market share. AMD's stock has experienced a significant drop after reporting a decline in gaming GPU sales. Qualcomm shares have also lost momentum after reaching a high premium.</p>

- Alphabet (GOOG) sparked panic with strong ad revenue growth, altering market sentiment. OpenAI's SearchGPT, an AI search engine, threatens Google's market dominance. Despite Google's current 81.95% search market share, concerns arise over potential losses to SearchGPT's ad-free, instant-answer model.
- AMD's stock peaked at $182 on July 11, then plummeted to $138.32, resembling a tech downturn. Despite lower GPU sales and a Zen 5 launch delay, AMD's stock surged. The delay aims to avoid product flaws like Intel's recent CPU issues.
- Qualcomm (QCOM) saw a stock decline from $222.22 to $175.39, maintaining a high valuation. With P/E at 19.94x and other ratios above sector norms, Qualcomm faces market pressure despite premium trading levels.

Tech Wreck Watch: Microsoft, Alphabet, AMD, Qualcomm