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AI Stocks Face Uncertainty: If the Market Isn’t ‘Pricing In Promise,’ What’s Next for Tech?
A benchmark index for semiconductors is down more than 8% in the first few days of the second half.Credit: Photographer: SeongJoon Cho / Bloomberg via Getty ImagesKey TakeawaysA tech-heavy basket of S&P 500 stocks more than doubled in the first half is down an average of 16% in July, according to Bespoke Investment Group.The PHLX Semiconductor Index closed 3% higher on Thursday, erasing some the index’s losses over the past five days.AI stocks have been giving investors whiplash.The PHLX Semiconductor Index of chip stocks, or SOX, almost doubled in the first half of the year, then flinched…
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