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Intel’s Surge Contrasts Tech Sector Weakness as AI Hype Fades
Intel’s Surge Contrasts Tech Sector Weakness as AI Hype Fades
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Intel shares rallied 36% in September amid reports of a potential Apple partnership, defying broader market declines. The S&P 500 dropped 0.5% Thursday as rising rates and tech sector weakness weighed on sentiment.
Oracle plunged 5% after Redburn's scathing report questioning the value of its AI partnerships. The firm warned of 40% downside potential, citing overstated cloud growth projections. MicroStrategy (rebranded as Strategy) fell 7.6%, extending the tech sector's selloff.
The divergence between Intel's breakout and crumbling AI stocks highlights shifting investor priorities. Market participants appear to be rewarding tangible semiconductor demand over speculative AI narratives.
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