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On Monday and Tuesday, Wall Street saw a significant sell-off in the stock market, particularly affecting artificial intelligence and big tech stocks ahead of Nvidia’s earnings release scheduled for November 19. The Nasdaq has dropped below its 50-day moving average and is still up over 45% since April 2023, despite this recent pullback.
Taiwan Semiconductor Manufacturing Co. (TSMC) commands a 60% share of the foundry market and 90% of advanced chip manufacturing, projecting a revenue increase from $90 billion in 2024 to $145 billion in 2025. Meanwhile, Vertiv Holdings Co. (VRT), which collaborates with Nvidia, is expected to grow its revenue from $5.69 billion in 2022 to $12.32 billion by 2026, indicating strong growth in the AI infrastructure sector.
As of now, the market is facing heightened fear, with CNN’s Fear and Greed Index at 11 out of 100, suggesting potential investment opportunities for long-term investors despite the current volatility.
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