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Chips Bleed, Microsoft & Apple Stay Green — Defensive Rotation On?
Chips and memory collapsed, but Microsoft (MSFT) rose 1.53% to $391 and Apple (AAPL) edged up 0.63% to $317 — rare green underscoring the defensive pull of software and consumer giants. Money rotated from battered chips into steady cash-flow names like HubSpot, Salesforce and Intuit; Apple also drew eyes with a suit alleging OpenAI data theft. As AI money shifts from volatile "picks-and-shovels" to safer leaders, can this defensive bid last — or just a fleeting shelter?
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