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Tech Stocks Tumble as Tesla's Growth Stalls and Investors Shift Away From AI
Technology stocks are getting hammered while much of the rest of the market is actually moving higher. Semiconductor companies and AI-related stocks have suffered steep losses in October, but an equal-weighted S&P 500 is up 4% for the month. Meanwhile, Tesla's latest earnings reveal a troubling slowdown in its core automotive business, raising questions about its future growth and a potential merger with SpaceX.
Chuck Zodda and Mike Armstrong examine why investors are rotating away from big tech, what Tesla's declining automotive revenue and reduced capital spending plans mean for its future…
The skinny
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