April 18, 2024

NEW DATA POINT SHOWS INSATIABLE DEMAND FOR AI CHIPS BUT CHART SHOWS BROADENING TOP PATTERN

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Insatiable Demand For AI Chips

Please click here for a chart of semiconductor ETF (SMH).

Note the following:

  • This is an important chart for three reasons.
    • Semiconductors are the epicenter of the AI revolution.
    • Semiconductors are the leading sector in the stock market.
    • Semiconductors often provide an early indication of upcoming stock market moves.
  • The chart shows a broadening top formation.  This is a negative.
  • The chart shows a big drop in semiconductors yesterday after ASML (ASML) earnings.  Please see yesterday’s Morning Capsule for details.
Please click here or the title below to read more.
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