Chip stocks hitting pause after a massive AI-fueled run. The Philly Semi Index stretched to dot-com era extremes and now profit taking is kicking in across the board. Even with today's pullback, Wall Street is still doubling down on $NVDA ahead of earnings
Chip Musings:
Per Jefferies, 47% of semis/hardware stocks are screening overbought on 14-day RSI (high was 70% in Dec '23, 66% on April 24) as of Friday's close.
The SOX is now 60% above its 200-day moving average, a level not seen since March 2000 and July 1995.
CHIP woke up quietly. CT noticed. 👀
📈 +15.7% this week
201 holders
$83K MCAP
Low noise. Early wallets.
You either see it now or hear about it later. 🔥
Trade CHIP on Blum Memepad:
Not financial advice. DYOR.
CHiPs for Kids is holding their annual toy drive and needs our help more now than ever!!! Any little bit helps, just text “TOYS” to 76278. All money collected will go to purchase toys and help families in need!!! I just texted, you should too! ❤️❤️
Memory chips were the story all week.
Then 30Y yields hit 5%, and the market remembered why bonds matter.
We asked Aime what happens to memory semis when long yields go this high.
Full read + Aime's analysis:
A Chipotle in Washington, D.C.’s Navy Yard district was torn apart by a group of thug teenagers while horrified families huddled in the corner.
The longer we pretend fatherless homes aren't the problem, the longer this problem will persist.
More than 2/3 of black homes do not have an active father present.