Asian chip stocks like TSMC and SK Hynix plunge after Nvidia's record drop in market value
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Asian semiconductor stocks fell sharply, with TSMC down 5.5%, SK Hynix down 9.2%, and Advantest down 10% on September 4, 2024; the MSCI Asia Pacific Index dropped 2.2%, marking the worst decline since August 5; Nvidia lost a record $278.9 billion in market value on September 3, 2024, raising concerns about AI stock valuations; analysts suggest AI stocks may have overshot profit expectations; despite volatility, some investors recommend buying dips, citing strong AI spending; Jung In Yun of Fibonacci Asset Management believes demand for AI will remain robust through mid-2025.
#Semiconductors #Nvidia #Tsmc #SkHynix #StockMarket #Ai #Investments #Asia #Economy #Volatility
https://fortune.com/asia/2024/09/04/asia-chip-stocks-tsmc-sk-hynix-record-nvidia-share-value-drop/
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