Today, a look at the intensifying sell-off in high momentum AI hardware names, led by a an ugly meltdown in the two Korean memory stocks overnight. Meanwhile, the broader market posted a very different and far more positive day, an intensification of recent patterns. Also, we looked at the recent Alphabet, Tesla and Intel earnings reports and the coming reports from Meta, Microsoft, Amazon.com and Apple with Saxo Equity Strategist Ruben Dalfovo. Finally, a preview of the FOMC meeting tomorrow in the macro and FX discussion and much more also on today's pod, which was hosted by Saxo Global Macro Strategist John J. Hardy.

Links

From what appears a credible source on X on the risks from the AI transformation to Alphabet's/Google's legacy "benevolent monopoly" business model.
Bloomberg weighs in on the circular financing concerns linked to Nvidia after a spate of recent stories.
Meta is fighting a mountain of social-media lawsuits, possibly worst legal challenge in its 22-year history.
Ford joins race to build the next US light duty vehicle for the US military.

About twice per week (in normal times, hopefully soon to resume), you will find links discussed on the podcast and a chart-of-the-day over at the John J. Hardy substack.

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Three hyperscalers set to report as AI momentum stocks stumble

Saxo Market Call

Three hyperscalers set to report as AI momentum stocks stumble