Kospi down over 4% and all the capex-related gains evaporated overnight. $Micron Technology(MU)$ $SK hynix(SKHY)$ $iShares Semiconductor ETF(SOXX)$
It feels like the market is going to keep the big spenders flat or at best modest gains. The market seems to be getting this completely wrong — punishing cloud growth of 82% while rewarding chips for a 15B increase in capex.
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