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Electronics chip stocks decline into bear market
The Philadelphia Semiconductor Index entered a bearish market after trading on Friday, falling by 1.54% to reach 11,684 points. This decline exceeds 20% from its peak in June at 14,655 points. This decrease affects the sector due to investor concerns over the sustainability of the massive spending on AI infrastructure and growing doubts about the ability of major tech companies to maintain this growth—especially with China announcing the "Kimi K3" model, which has heightened fears of international competition. Despite the market downturn, some stocks, such as MicroTechnology and Sandisk, showed gains of 2.10% and 2.76%, respectively, while others like Nvidia, Intel, and Western Digital declined between 1.18% and 1.44%.
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