Research and Judgment of the World's Largest Asset Management; The Sell-off of Chip Stocks has Overdone
[Research and Judgment of the World's Largest Asset Management: The Sell-off of Chip Stocks has Overdone] Financial News Agency, July 23, in the past few weeks, chip stocks such as SanDisk and Micron Technology have gone from being the biggest AI winners on Wall Street to the stocks with the worst declines. But BlackRock, the world's largest asset manager, believes investors may have misjudged the situation. BlackRock said the recent sharp sell-off in technology and semiconductor stocks was an "overreaction" and warned that the market was conflating "a shift in the AI competitive landscape" with a "collapse in AI investment." BlackRock said that strong economic growth and continued profit expansion have allowed it to continue to maintain its "overweight" position on U.S. stocks, and recommended that investors focus on AI bottleneck areas such as power, chips, and data centers.