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Hedge funds are rapidly selling off global tech stocks, with U.S. tech making up 75% of the net selling, particularly in semiconductors. This shift, driven by macroeconomic pressures and a bearish outlook, has reduced hedge fund exposure to the tech sector to a five-year low of 16.4%. Concerns over AI valuations and trade tariffs have further fueled the selloff, despite reassurances from Goldman Sachs about the sector's strong fundamentals.
China’s President Xi Jinping urged multinational CEOs to safeguard global trade and supply chains amid rising US tariffs, emphasizing the need for cooperation to stabilize the economy. The meeting, attended by around 40 executives, highlighted concerns over tightening regulations and foreign investment challenges in China. Xi noted the significant contributions of foreign enterprises to China's economy, while reiterating the mutually beneficial nature of China-US trade relations.
Wells Fargo has maintained an Overweight rating on Micron Technology with a price target of $130, following a TrendForce report indicating price increases due to rising demand and tighter market conditions. Micron's stock is currently trading below its Fair Value, with analysts projecting price targets between $75 and $200, highlighting significant upside potential. The company reported a revenue growth of over 50% in the February quarter, driven by its High Bandwidth Memory products, and anticipates a gross margin of 36.5% for the upcoming quarter, reflecting strong demand in the Data Center sector.
SK Hynix, the world's second-largest memory chip maker, has reported a surge in customer orders as clients rush to purchase ahead of impending US tariffs. Lee Sang-rak, head of global sales and marketing, highlighted that lower inventory levels among customers have also contributed to improved market conditions. However, he expressed uncertainty about the sustainability of this demand.
Morgan Stanley has upgraded SK Hynix Inc. from underweight to equal-weight, acknowledging a misjudgment in their previous downgrade last September. The analysts noted that the anticipated cyclical underperformance and increased competition in the high-bandwidth memory market leading into 2025 have not occurred, as the stock has rallied on positive outlooks for the company's advanced memory chip supply.
Samsung Electronics is bracing for a challenging annual general meeting on March 18, 2025, as shareholders express concerns over the company's ability to capitalize on the AI boom. The tech giant has acknowledged a decline in its competitive edge in semiconductors, particularly trailing behind SK Hynix in high bandwidth memory chips crucial for AI graphics processing units. Internal communications reveal worries about stagnation, with efforts now focused more on maintaining the status quo rather than fostering innovation.
Huawei is poised to adopt Tongfu Microelectronics' HBM2 components for its AI chips, marking a significant advancement in China's semiconductor industry. Tongfu, a leading chip assembly firm, has begun trial production of HBM2, which, despite being 2-3 generations behind Nvidia's HBM3E, is expected to bolster China's AI capabilities amid ongoing US sanctions. Other Chinese companies, including CXMT and Wuhan Xinxin, are also making strides in DRAM and HBM technologies, further enhancing the nation's tech landscape.
Huawei chip suppliers are enhancing China's AI capabilities amid U.S. export restrictions. Companies like Tongfu Microelectronics and BOE Technology are developing lower-grade HBM chips and unique chip substrates, respectively, to bolster the domestic tech sector. Despite challenges, including advanced chip access limitations, efforts from firms like ChangXin Memory Technologies signal a push towards self-sufficiency in AI technology.
A Chinese national, identified as A, is appealing a conviction for allegedly leaking SK Hynix's semiconductor technology to Huawei, where she joined after leaving SK Hynix. Accused of printing and sharing over 3,000 pages of sensitive documents, A was sentenced to 18 months in prison. Her defense argues that no national core technology was leaked and seeks to call a former colleague as a witness to support her claims.
Global stocks showed mixed results as Wall Street rebounded from holiday lows. Japan's Nikkei 225 fell 1.5% amid concerns over U.S. investment policies, while South Korea's Kospi surged 1.9% driven by gains in tech stocks. The S&P 500 and Dow Jones saw modest increases, reflecting ongoing economic resilience despite high interest rates.
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hedge funds rapidly sell off tech stocks amid market volatility
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13:33 31.03.2025
China's Xi urges CEOs to safeguard trade amid looming US tariffs
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13:01 28.03.2025
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12:45 27.03.2025
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06:09 24.01.2025
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global stocks mixed as wall street rebounds from holiday slump
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10:10 06.01.2025
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