Sophocles Sophocleous @rulenumberone: "Bad start to the month..."

Cyprus

Bad start to the month for AI stocks. As the Semiconductor Index chart shows, the rally does look extended, though the last 2 pullbacks stopped at around -16%. The KOSPI index in Asia is up this morning, so I expect to see some relief in semiconductors and AI stocks, as the 2-day move was violent. I think some patience is required here. I don't believe there was any material news to trigger this, and it looks like short-term profit-taking. I was going to make some switches as always, but decided to wait. I added $DVA (DaVita HealthCare Partners Inc) 2 days ago to the portfolio, which has been a positive contributor and is completely unrelated to the rest of the portfolio, as it's a health care stock. The limited notable news over the last 2 days for our holdings: $GLW (Corning Inc) Mizuho Maintains Outperform on Corning, Raises Price Target to $270 $GNRC (Generac Holdings Inc) Citigroup Lifts Price Target on Generac to $300 From $263, Maintains Neutral Rating $MU (Micron Technology, Inc.) -Micron and General Motors announced a Strategic Customer Agreement (SCA) to secure a long-term, reliable supply of memory and storage platforms critical to GM’s vehicle production and delivery at scale. -President Trump calling Micron 'one of the hottest companies in the world' @realDonaldTrump/posts/116845625781087003" class="ets-link-primary" target="_blank" rel="noopener noreferrer nofollow ugc">truthsocial.com/@realDonaldTrump/posts/116845625781087003 $SNDK (Sandisk Corp/DE) Renaissance Adjusts PT on Sandisk to $3,169 From $1,702, Maintains Buy Rating $VRT (Vertiv Holdings Co) Company opened its first Southeast Asian manufacturing facility in Johor, Malaysia, to produce power and cooling systems for AI and data center customers across Asia-Pacific. It is expected to be fully operational in 2027. - Sophocles Sophocleous, CFA

Not investment advice. The author may have financial interests in the mentioned instruments.