is the Chip Stock Run Over?

The semiconductor rally that powered Wall Street to record highs has stalled. Apple fell 3.6% on a tepid WWDC, the SOX index dropped 2%, and the Nasdaq is down nearly 5% in five days. The US launched retaliatory strikes on Iran after an Apache helicopter was downed over the Strait of Hormuz — yet oil barely moved. Tonight's US CPI (consensus 4.2%) sets the scene for next week's Fed meeting.In this episode:→ Why the entire S&P rally since February is AI stocks alone→ Sector rotation into defensives — tech's 10-week run breaks→ Oil's bizarre non-reaction to US-Iran escalation→ SpaceX at 100x sales — "the dumbest thing I've ever heard"→ Gold goes negative for 2026 despite spiralling US debt→ CPI tonight, Oracle Thursday, Adobe Friday→ Sigma Healthcare eyeing $14B bid for UK BootsKey levels: S&P 7,385 (–0.3%) | Nasdaq 25,679 (–1%) | WTI $88.49 | Gold $4,252 | ASX Futures 8,624 (+0.2%)🎙️ Bulls vs Bears — our weekly Friday podcast with Mark, Kai & Jonathan. Find it on Spotify, Apple Podcasts and YouTube.For professional use only. Not financial advice.