Tech stocks just took a beating

pekss
07-18

Semiconductor stocks like ASML, $NVIDIA Corp(NVDA)$  , $Advanced Micro Devices(AMD)$  , $Taiwan Semiconductor Manufacturing(TSM)$   and $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$  took a heavy beating tonight as they are caught between increasing geopolitical tensions between the U.S. and China. The US is reportedly considering to further tighten the export restrictions of even foreign-made semiconductor chips and their manufacturing tools even with the slightest US contents in them.

The geopolitical tensions are also claiming victims among the big techs such as $Meta Platforms, Inc.(META)$   that has benefited from the AI boom and caught in the crossfire, as a falling tide sinks all ships.

However, I remain optimistic of the growing demands for artificial intelligence in every aspects of modern life, with correspondingly rising demands for semiconductor chips to train and drive the AI engines. Hence, the short-term price weaknesses offer me an opportunity to accumulate these magnificent stocks for long-term growth.

@TigerWire @TigerStars 

# 💰 Stocks to watch today?(22 Nov)

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  • NEXTTOME
    ·07-18
    TOP

    I feel this is just market rotation from tech (AI) and some media news about social media from our politicians. The company seems to be sound and making money. This could be coming into a good opportunity. Resistance seems to be at $430 Potentially a good time to pick up some shares? I'm selling a $395 put option out 2 weeks. Collecting $400 and hope that I get assigned.

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  • BlancheElsie
    ·07-18

    it'll be fine same scenario played out last quarter when NVDA dropped around 20% in a few days after ASML earnings. Maybe a bounce off the 50 day MA for TSM at 159. NVDA is already there. All the Trump/Biden is inconsequential in the long run and just to shake out weak hands.

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  • gogogoFor
    ·07-18

    ASML is a monopoly... nothing to worry about... ASML should increase the prices on the machine and maintenance fees to increase margins... no competition allows them to make the move to improve fundamentals.

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  • SummerNight
    ·07-18

    Didn't ASML come out couple months ago mentioning good news everyone knew ASML what earnings call would be fake news drink up and buy.

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  • GregoryRichardson
    ·07-18
    Great analysis! Long-term growth is the way to go. [Applaud]
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  • Mess0M
    ·07-18

    Nothing has changed. This is temporary.... Buying NOW

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  • AuntieAaA
    ·07-18
    GOOD
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