Tuesday’s semiconductor selloff looks more like a valuation reset than a fundamental breakdown. The Philadelphia Semiconductor Index fell about 5%, while memory and optical names such as SNDK, MU and CRDO were hit much harder than Nvidia.
The key issue is macro: the 30-year Treasury yield recently reached its highest level since 2007, while Brent crude moved above $90. That combination naturally pressures high-multiple growth stocks.
But AI infrastructure demand has not suddenly disappeared. Memory, storage, networking and GPU demand remain tied to massive data-center investment.
So I wouldn’t call this an AI-cycle reversal yet. Instead, I’d watch whether SNDK and MU stabilize and reclaim key moving averages. If they do, Tuesday’s crash may eventually look more like a healthy reset than the start of a bear market.
@Tiger_comments [龇牙]
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