Chip stocks are on pace for a 6th straight red day, the longest losing streak for the Philadelphia Semiconductor Index (SOX) since May 2025, per Bloomberg

The SOX is down about 2% today near 11,964, roughly 9.5% below its Oct 6 close of 13,218

Monday did the most damage with a 2.7% drop after $Broadcom(AVGO.US) CEO Hock Tan compared AI investing to a "casino" at a conference in Singapore

Memory names are taking the hardest hits after reports that China's CXMT made key progress on a new memory architecture. $Micron Tech(MU.US), Samsung, and SK Hynix have led the selling

This morning's hotter core CPI and a $Coreweave(CRWV.US) bond now yielding about 15%, up from 9.625% at issue, are adding pressure on the debt-funded AI buildout

Even with the slide, the index is still up more than 60% this year

Six red days after a run like that looks more like the market repricing how fast AI capex turns into returns than demand cracking. $ASML(ASML.US) just posted a record quarter with customers talking orders into 2029 and 2030. The real test is hyperscaler capex guidance later this month, because that is what this group is priced on

Source: StockMarket.News