$Intel(INTC.US)Context: Yorkville Ives Partner and tech bull Dan Ives has predicted a 10%-12% downside for chip stocks d…
$Intel(INTC.US)
Context: Yorkville Ives Partner and tech bull Dan Ives has predicted a 10%-12% downside for chip stocks during the current technology selloff, while Fundstrat’s Tom Lee called the post-election pressure on AI-related names an "overreaction" and said technology stocks could rally 20% from current levels. According to Ives, hyperscaler capital spending and Palantir Technologies Inc.’s AI use cases remain supportive, but he sees disruption across memory players, Intel, advertising and software stocks. However, Ives said he believes the underlying AI fundamentals will ultimately "prove it out," citing Palantir, Apple and the hyperscalers.
My Trade: I couldn't resist not buying Intel as it retraces so much from a triple digit to $50+. Despite the earnings miss, I do think it will eventually rebound.
Takeaway: There's probably a knee jerk reaction in the stock market as overall fear creeps into Wall Street. Selling pressure remains high for now: an opportunity or a deeper cause for concern? @Captain's Treasure
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