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Chip Stocks Extend Pullback Amid AI Bubble Fears
SK Hynix is set to report earnings this week.Credit: Michael Nagle / Bloomberg via Getty ImagesKey TakeawaysChipmaker stocks, including Broadcom and Intel, fell sharply, dragging the Nasdaq lower.Concerns over AI spending sustainability are weighing on investor sentiment for tech stocks.Shares of a number of chipmakers fell today, extending a rough stretch for the AI trade and dragging the Nasdaq lower.Shares of Broadcom (AVGO), Micron (MU), Marvell (MRVL), Intel (INTC), SanDisk (SNDK), SK Hynix (SKHY) and several others sank Tuesday. The Philadelphia Semiconductor Index (SOX) was down more…
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