High-valuation AI stocks were under another round of sell-offs, prompting a weak opening and persisted decline in the US bourse on Thursday. The DJIA tumbled as much as 523 points or 1.1% at its lowest. At close, it dived 398 points or 0.8% at 46,912. The S&P 500 settled down 75 points or 1.1% at 6,720. The Nasdaq plunged 445 points or 1.9% to 23,053.
AI chip stocks were the top loser, with Nvidia (NVDA.US) slipping 3.7%, AMD (AMD.US) cratering 7.3%, and Palantir (PLTR.US) diving 6.8%. Qualcomm (QCOM.US) logged a net loss of US$3.12 billion for 4FQ, with its stock price shedding 3.6%. Arm (ARM.US) posted a 34% rise in revenue for 2FQ, with guidance beating expectations, but its stock dipped 1.2%.
Techs waned, with Meta (META.US) and Microsoft (MSFT.US) both fading around 2%, Tesla (TSLA.US) losing 3.5%, and Amazon (AMZN.US) sliding 2.9%. Apple (AAPL.US) held sturdy.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| Nvidia (C) |
10055 |
230 (-) |
0.152 |
5.9 X |
| Nvidia (P) |
10057 |
165 (-) |
0.209 |
4.0 X |
| AMD (C) |
10760 |
225 (-) |
0.620 |
3.2 X |
| AMD (P) |
10777 |
155 (-) |
0.190 |
2.9 X |
| META (C) |
10003 |
900 (-) |
0.232 |
7.7 X |
| META (P) |
10757 |
700 (-) |
1.330 |
3.9 X |
| MSFT (C) |
10744 |
600 (-) |
0.080 |
12.4 X |
| MSFT (P) |
10715 |
435 (-) |
0.235 |
7.8 X |
| TSLA (C) |
10010 |
530 (-) |
0.560 |
5.1 X |
| TSLA (P) |
10011 |
370 (-) |
0.330 |
4.4 X |
| AMZN (C) |
10004 |
280 (-) |
0.118 |
7.9 X |
| AMZN (P) |
10700 |
180 (-) |
0.068 |
6.9 X |
| APPLE (C) |
10079 |
320 (-) |
0.224 |
7.2 X |
| APPLE (P) |
10793 |
210 (-) |
0.038 |
8.7 X |
