Tech Stocks Lead Dow Jones Industrial Average To Largest Drop In Almost Two Years
Unfazed by the record-breaking fall, Morgan Stanley listed Taiwan Semiconductor as its preferred stock, stating that the valuation is attractive after the sell-off.
Morgan Stanley analyst is bullish on Taiwan Semiconductor's quality and defensiveness, stating that rising prices and continued strength in AI capital expenditures are key catalysts for the stock. On Monday, Taiwan Semiconductor's stock price fell nearly 10% in Taiwan, and its US stock price fell nearly 11% in early trading, but fell nearly 1.3% and rose nearly 2% after hours.
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In July, the sale of Nvidia exceeded $0.32 billion! Huang Renxun has set a new record for cashing out for two consecutive months.
According to the shareholding rules adopted in March, Huang Renxun sold Nvidia stocks worth 0.323 billion US dollars in July and broke his personal monthly record for cashing out, which was set in June by selling nearly 0.17 billion US dollars. Some analysts believe that Huang Renxun's timing was perfect for cashing out before Nvidia's sharp drop in August, and he had successfully taken advantage of the last surge in chip stocks. Nvidia fell more than 15% on Monday's opening and was deeply mired in a bear market.
Shares of Stocks in the Broader Tech Sector Are Trading Lower Amid a Sell off Due to US Economy Concerns.
Technology leveraged ETFs plummeted, with some falling as much as 60%, triggering further selling due to additional margin calls.
Investors placed big bets on the rebound of technology stocks last month, pouring billions of dollars into leveraged ETFs that invest in technology companies. However, these funds have recently suffered significant losses, with some falling by as much as 60%. Some analysts have pointed out that the biggest concern now is "forced selling", which could further push down stock prices.
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