๐ Chip stocks bounce: AMD, Micron $MU, Intel $INTC recover after BofA bubble-risk selloff โ SMH ETF +2.7%
Semiconductors are clawing back Monday after a rough stretch โ AMD, Micron (MU), and Intel (INTC) had shed 4.3%, 5.5%, and 5.3% respectively when Bank of America flagged AI chip valuations as carrying 'bubble risk.' Today the VanEck Semiconductor ETF (SMH) is up ~2.7% off the open as dip-buyers step in on the first session back from the July 4th holiday. AI chip demand fundamentals haven't changed, but multiples are stretched. Is this bounce the real deal or just a holiday short-cover? Not financial advice.
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