"The markets are hunting direction this morning as technology stocks continue their downward descent. Software names are under pressure, including the likes of Microsoft ( Nasdaq: MSFT | MSFT Price Prediction), on the AI fear trade. Chip/semiconductor software stocks are also under pressure, including companies such as Broadcom ( Nasdaq; AVGO), Advanced Micron Devices ( Nasdaq: AMD) and Micron ( Nasdaq: MU), the latter of which is sinking by 3% today amid its $200 million AI memory chip capex blitz to get the supply chain moving. Safe-haven assets are also under pressure, including precious metals gold and silver as well as digital gold Bitcoin."
"Wedbush is touting Apple ( Nasdaq: AAPL) stock, forecasting that the iPhone maker will roll out its AI solution in 2026 amid a strategic partnership with Alphabet's ( Nasdaq: GOOGL) Google and its Gemini assistant. Apple stock has been caught in the tech sell-off, but Wedbush says AI could boost the share price by up to $100 in the coming years."
"Michael Saylor's Strategy ( Nasdaq: MSTR) has been at it again, adding to its balance sheet tally with another 2,486 Bitcoins, paying on average below $68,000 for each one, which could be a bargain if BTC returns to the $100,000 threshold. The latest buying spree buoys Strategy's total portfolio to 717,131 BTC."
Markets searched for direction as technology shares declined, driving pressure across software and semiconductor stocks. Microsoft and other software names weakened amid AI-related selling. Broadcom, AMD and Micron fell, with Micron down about 3% amid a $200 million AI memory-chip capital expenditure blitz to stimulate the supply chain. Precious metals and Bitcoin also traded lower, reducing safe-haven demand. Morning levels showed the Dow up 0.20%, Nasdaq down 0.51% and S&P 500 down 0.16%. Wedbush forecasted an Apple AI rollout in 2026 tied to Google, potentially adding up to $100 to the share price. Netflix edged lower amid resumed takeover talks. Michael Saylor’s Strategy added 2,486 BTC, raising holdings to 717,131 BTC.
Read at 24/7 Wall St.
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